Complete the relevant T- accounts (provided on next page) to show the flow of costs through the companys manufacturing accounts and answer the questions provided.

The following incomplete information is provided in relation to JMC Ltd for the month of December (i) Opening balances: Raw materials WIP Finished goods $42,000 $32,500 $85,000 (ii) Closing balances Raw material Finished goods $35,000 $32,000 (iii) Overhead is applied on the basis of $9.00 per direct labour hour. (iv) The only unfinished job at the end of December had incurred $19,000 of raw materials and $14,000 (2000 hours) of direct labour. (v) Jobs sold during the month were sold for $550,000. The cost of the goods sold during the month was $285,000. (vi) Indirect materials of $3,500 were incurred during December. (vii) Sundry manufacturing overhead costs incurred during December were $65,000 (viii) A total of 7,750 labour hours were worked during normal working hours. Employees also worked an additional 650 hours of overtime during the month. Overtime hours are paid at a rate of 150% of the normal hourly rate