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 5,900 21,700 The following transactions occurred during January: (a) Purchased materials on account for $26,700. (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 $18,900 were recorded as follows: $11,600 for assembly workers 1,100 for factory supervision 2,800 for administrative personnel 3,400 for sales commissions (d) Recorded depreciation: $5,400 for factory machines, $800 for the copier used in the administrative office. (e) Recorded $1,600 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense. (f) Paid $5,000 in other factory costs in cash. (g) 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 $2,300 for direct materials, $2,200 for direct labor, and $4,400 for applied overhead. (i) Sold jobs costing $50,500. The revenue earned on these jobs was $65,650. 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 Work in Process Inventory Beg. Bal. 15,100 Beg. Bal. 5,900 End. Bal. 15,100 End. Bal. 5,9001 Cost of Goods Sold Finished Goods Inventory 21,700 Beg. Bal. Beg. Bal. End. Bal. 21,700 End. Bal. O Manufacturing Overhead Selling, General, and Administrative Expenses Beg. Bal. Beg. Bal. | End. Bal. End. Bal. T O T Sales Revenue Beg. Bal. End. Bal. 01 Required Required Required Required 1 2 3 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 Required Required Required Required 1 1 2 3 4 Determine the amount of over- or underapplied overhead. Manufacturing Overhead Overapplied by Required Required Required Required 2 | 3 Compute adjusted gross profit assuming that any over- or underapplied overhead balance is adjusted directly to Cost of Goods Sold. Adjusted Gross Profit