Christiopher's Custom Cabinet Company uses a job...

Christopher's Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs. Inventory balances at the beginning of 2018 follow: Raw Materials Inventory Work in Process Inventory Finished Goods Inventory $16,800 5,500 21,800 The following transactions occurred during January: (a) Purchased materials on account for $26,200. (b) Issued materials to production totaling $20,400, 90 percent of which was traced to specific jobs and the remainder of which was treated as indirect materials. (c) Payroll costs totaling $16,400 were recorded as follows: $11,000 for assembly workers 1,200 for factory supervision 1,600 for administrative personnel 2,600 for sales commissions (d) Recorded depreciation: $5,800 for factory machines, $500 for the copier used in the administrative office. (c) Recorded $1700 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense. (Paid $6,200 in other factory costs in cash. (9) Applied manufacturing overhead at a rate of 200 percent of direct labor cost. (h) Completed all jobs but one; the job cost sheet for the uncompleted job shows $2,400 for direct materials, $2,500 for direct labor. and $5,000 for applied overhead. Sold jobs costing $50,800. The revenue earned on these jobs was $66,040. Required: 1. Set up T-accounts, record the beginning balances, post the January transactions, and compute the final balance for the following accounts: a. Raw Materials Inventory. b. Work in Process Inventory. c. Finished Goods Inventory. d. Cost of Goods Sold. e. Manufacturing Overhead. f. Selling, General, and Administrative Expenses. g. Sales Revenue. 2. Determine how much gross profit the company would report during the month of January before any adjustment is made for the overhead balance. 3. Determine the amount of over- or underapplied overhead. 4. Compute adjusted gross profit assuming that any over- or underapplied overhead balance is adjusted directly to Cost of Goods Sold. Work in Process Inventory Beg. Bal. (a) Raw Materials Inventory 16,800 26,200 20,400 Beg. Bal. (b) (b) 9,900 (h) 5,500 18,360 11,000 22,000 (c) O End. Bal 22,600 End. Bal. 46,960 Cost of Goods Sold Finished Goods Inventory 21,800 Beg. Bal. Beg. Bal. End. Bal. 21,800 End. Bal. 0 Manufacturing Overhead Selling, General, and Administrative Expenses Beg. Bal Beg. Bal. + End. Bal. 0 End. Bal. 0 Sales Revenue Beg. Bal. End. Bal. 0 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine how much gross profit the company would report during the month of January before any adjustment is made for the overhead balance. Unadjusted Gross Profit Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the amount of over or underapplied overhead. Manufacturing Overhead Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute adjusted gross profit assuming that any over- or underapplied overhead balance is adjusted directly to Cost of Goods Sold. Adjusted Gross Profit