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 $16,200 5.100 21.200 The following transactions occurred during January (a) Purchased materials on account for $27,900, (b) issued materials to production totaling $20,700, 90 percent of which was traced to specific jobs and the remainder of which was treated as indirect materials. (c) Payroll costs totaling $17,400 were recorded as follows: $10,800 for assembly workers 1,300 for factory supervision 1900 for administrative personnel 3,400 for sales commissions (d) Recorded depreciation: $5,400 for factory machines, S600 for the copler used in the administrative office. (e) Recorded $1.800 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense. Paid $6,500 in other factory costs in cash. () Applied manufacturing overhead at a rate of 200 percent of direct labor cost in Completed all jobs but one the job cost sheet for the uncompleted job shows $2,500 for direct materials. $2,300 for direct labor, and $4,600 for applied overhead. ( Sold jobs costing $51,500. The revenue earned on these Jobs was $66,950 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 t. Selling, General, and Administrative Expenses. 9. 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Set up T-accounts, record the beginning balances, post the January transactions, and compute the final balance for the following accounts: (Post all amounts separately. Do not combine/add any dollar amounts when posting to the T-accounts.) a. Raw Materials Inventory. b. Work in Process Inventory c. Finished Goods Inventory d. Cost of Goods Sold. c. Manufacturing Overhead. f. Selling, General, and Administrative Expertises. g. Sales Revenue. Show less Raw Materials Inventory 16,200 Work in Process Inventory 5.100 Beg. Bal Beg Bal End. Bal End, Bal Finished Goods Inventory 21,200 Cast of Gooda Sold Beg Bal Beg Bal End. Bal End. Bal Manufacturing Overhead Selling. General, and Administrative Expenses Bag. Bal Beg Bal End. Bal End. Bal Sales Revenue Beg Ba End, Bal 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. Uradjusted Gross Profit Required 1 Required 3 > 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