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 $15, 100 6,500 21,900 The following transactions occurred during January: (a) Purchased materials on account for $26,200. (b) Issued materials to production totaling $21700, 90 percent of which was traced to specific jobs and the remainder of which was treated as Indirect materials (c) Payroll costs totaling $18,300 were recorded as follows: $11.900 for assembly workers 2,300 for factory supervision 1700 for administrative personnel 2.400 for sales commissions (d) Recorded depreciation: $5,400 for factory machines, $700 for the copler used in the administrative office. (e) Recorded $1,900 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense. Pald $4,900 in other factory costs in cash. (9) Applied manufacturing overhead at a rate of 200 percent of direct labor cost. (n) Completed all jobs but one; the job cost sheet for the uncompleted job shows $2,300 for direct materials, $2,500 for direct labor, and $5,000 for applied overhead Sold jobs costing $50,700. The revenue earned on these jobs was $65,910 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. 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. e. Manufacturing Overhead. f. Selling, General, and Administrative Expenses g. Sales Revenue. Show less Raw Materials Inventory 15,100 Work in Process Inventory 6,500 Beg Bai Beg Bal End, Bal 15,100 End. Bal. 6,500 Finished inninn onlinna Cost of Goods Sold Finished Goods Inventory 21,900 Beg. Bal Beg. Bal. End. Bal. 21,900 End. Bal. 0 Manufacturing Overhead Selling, General, and Administrative Expenses Beg. Bal. Beg. Bal. End. Bal. End. Bal. 0 Sales Revenuo Bog. Bal. End, Bal. Roqulrod 1 Required 2 > Question 7 - CH2 X Home - RamPort Cudl-Th X D ACCT 2302.010 (Online) - Bloc X Comheducation.com/ext/map/index.html?_con-con&external_browser=0&launchuriahttps%253A%252F%252F Saved 1. Jeup I-LLULIIS, TELUIU LIE Ueyliy Udince, post uie January udiLLIUIS, DIU curlu 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 be 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 Sold. 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 a the overhead balance. Unadjusted Gross Profit Question 7 - CH2 X Home - RamPort Cudl-Th X D ACCT 2302.010 (Online) - Bloc X Comheducation.com/ext/map/index.html?_con-con&external_browser=0&launchuriahttps%253A%252F%252F Saved 1. Jeup I-LLULIIS, TELUIU LIE Ueyliy Udince, post uie January udiLLIUIS, DIU curlu 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 be 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 Sold. 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 a the overhead balance. Unadjusted Gross Profit