Data Table A Requirements Total Total Manufacturing Costs Added Job Date Cost of Job No. Started Finished Sold at October 31 in November 10/03 10/12 10/13 1. Which type of costing system is Clement using? What piece of data did you base your answer on? 2. Use the dates in the table to identify the status of each job at October 31 and November 30. Compute Clement's account balances at October 31 for Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold. Compute, by job, account balances at November 30 for Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold. 3. Prepare journal entries to record the transfer of completed jobs from Work-in-Process Inventory to Finished Goods Inventory for October and November 4. Record the sale of Job 3 for $2,300 on account. 5. What is the gross profit for Job 3? 10/03 10/30 11/01 1,300 1,400 1,000 $ 11/24 11/27 10/17 10/29 11/29 1.200 12/03 11/14 900 1,200 650 500 11/08 11/12 11/23 12/06 12/09 Print Done Print [Done] Print Done Clement Manufacturing makes carrying cases for portable electronic devices. Its costing records yield the following information: E: (Click the icon to view the costing records.) Read the requirements. Requirement 1. Which type of costing system is Clement using? What piece of data did you base your answer on? Clement uses a job order costing system. We know this because Clement's costing records show costs being accumulated for each job. Requirement 2. Use the dates in the table to identify the status of each job at October 31 and November 30. Compute Clement's account balances at October 31 for Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold. Compute, by job, account balances at November 30 for Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold. (If a box is not used in the schedule, leave the box empty; do not select a label or enter a zero.) Prepare the October schedule first, followed by the November schedule. Clement Manufacturing Computation of Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold For October and November Work-in-Process Inventory Finished Goods Inventory Date cost of Goods Sold Job Cost Job Cost Job Cost October 31: Total