Cherry Cotta makes custom ordered clay pots for residential gardens. Below is cost information regarding its latest job. a. Materials were purchased on account.

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Cherry Cotta makes custom ordered clay pots for residential gardens. Below is cost information regarding its latest job. a. Materials were purchased on account. $18,996 purchased b. A materials requisition form shows an amount of materials required for this job, 10% of which were used for general use. $12,450 requested c. A labor time sheet shows the following. Employee T. Walker M. Foster C. Watson K. Willis Role Crafting Firing Maintenance Supervisor Factory Utilities Advertising Expense Administrative Duties d. The additional list below shows costs incurred. Factory Depreciation Factory Property Taxes Job 345 Hours 23 18 6 10 Estimated Overhead Cost Estimated Direct Labor Hours $395 $625 $348 $ 487 $ 950 Rate $12.50 $13.75 $ 11.00 $ 23.00 At the beginning of the year, overhead costs and workload $ 90,000 1,500 Total $287.50 $ 247.50 $66.00 $ 230.00 $ 831.00 estimated. Direct Labor hours drives the cost of overhead. f. By month's end, all previous jobs were completed, but only 80% of the pots started this month were completed. $22,000 Total Sales g. 90% of the previous batch of pots were sold, while 70% of the pots completed this month were sold. Required: 1. Complete the T-Accounts below. 2. Determine the Cost of Goods Manufactured. 3. Create a journal entry to dispose of the Over/Underapplied Overhead. 4. Determine the Cost of Goods Sold after disposing of the Over/Underapplied Overhead. 5. Determine the Gross Profit for the month. Note: When calculating amounts below, use the total in the T-Accounts.