Exercise 1 Devona Company's fiscal year ends on June 30. The following accounts are found in its job order cost accounting system for the first month of the new fiscal year: RAW MATERIALS INVENTORY July 1 Beginning balance 19,000 July 31 Requisitions (A) July 31 Purchases July 31 Ending balance (B) 90,400 (F) July 1 July 31 July 31 July 31 July 31 Beginning balance Direct Materials Direct Labor Applied Overhead Ending balance WORK IN PROCESS INVENTORY July 31 Jobs completed 75,000 (D) (E) (G) Cost of Goods Sold (J) July 1 July 31 July 31 Beginning balance Completed Jobs Ending balance FINISHED GOODS INVENTORY (H) July 31 (0) (K) FACTORY LABOR (L) July 31 July 31 Factory wages Wages Assigned (M) Overhead Applied 91.000 July 31 July 31 July 31 MANUFACTURING OVERHEAD 8,900 July 31 16,000 (N) Indirect Materials Indirect Labor Other Overhead Other Data: 1. On July 1, two jobs were in process: Job No. 4085 and Job No. 4086, with costs of $17,000 and $8,200, respectively. 2. During July, Job Nos. 4087,4088, and 4089 were started. On July 31, only Job No. 4089 was unfinished. This job had charges for direct materials $2,000 and direct labor $1,500, plus manufacturing overhead 3. On July 1, Job No. 4084, costing $135,000, was in the finished goods warehouse. On July 31, Job No. 4088, costing $143,000, was in finished goods. 4. Manufacturing overhead was applied at the rate of 130% of direct labor cost. Overhead was $3,000 underapplied in July. REQUIRED: Indicate the amount pertaining to each of the above letters. (Show your calculations)