Complete this question by entering your answers in the tabs below. Determine how much gross profit the company would report during the month of January before any adjustment is made for the overhead balance. Complete this question by entering your answers in the tabs below. Determine the amount of over- or underapplied overhead. Christopher's Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs. nventory balances at the beginning of the current year follow. The following transactions occurred during January: a. Purchased materials on account for $26,600. b. Issued materials to production totaling $20,500,90 percent of which was traced to specific jobs and the remainder of which was treated as indirect materials. c. Payroll costs totaling $18,400 were recorded as follows: $11,800 for assembly workers $1,600 for factory supervision $1,600 for administrative personnel $3,400 for sales commissions d. Recorded depreciation: $4,900 for factory machines, $1,400 for the copier used in the administrative office. e. Recorded $1,400 of explred insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense. 1. Paid $6,200 in other foctory 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 $2,300 for direct materials, $2,200 for direct labor, and $4,400 for applied overhead. 1. Sold jobs costing $51,300. The revenue earned on these jobs was $66,690. 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. Monufacturing Overhead. t. Selling. General, and Administrative Expenses. g. Sales Rovenue. 2. Determine how much gross profa 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 underappliod overhead. 4. Compute adjusted gross profit assuming that any over-or underapplied overhead bolance is adjusted directly to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Compute adjusted gross profit assuming that any over- or underapplied overhead balance is adjusted directly to Cost of Goods Sold. Selling, General, and Administrative Expenses Complete this question by entering your answers in the tabs below. Set up T-accounts, record the beginning balances, post the January transactions, and compute the final balance for the following accounts: Note: Post all amounts separately. Do not combine/odd any dollar amounts when posting to the T-accounts. a. Raw Materials inventory. b. Work in Process Imventory. c. Finished Goods Inveptory. d. Cost of Goods Sold. e. Manufacturing Overhead. f. Selling, General, and Administrative Expenses. 9. Sales Revenue