For an answer to be graded as correct, you must use an Excel formula: 1. Begin each formula with an = sign. 2. Reference cells, instead of entering values. Example: =B3+C3 5. Determine the Gross Profit for the month. Gross Profit \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline & \\ \hline \hline \end{tabular} Note: When calculating amounts below, use the total in the T-Accounts. 2. Determine the Cost of Goods Manufactured. Cost of Goods Manufactured 3. Create a journal entry to dispose of the Over/Underapplied Overhead. \begin{tabular}{|c|c|c|c|} \hline Date & Account & Debit & Credit \\ \hline 3/31/2022 & & \\ \hline & & & \\ \hline \end{tabular} 4. Determine the Cost of Goods Sold after disposing of the Over/Underapplied Overhead. Cost of Goods Sold 5. Determine the Gross Profit for the month. A1 fx Accessibility tab summary: The financial information of Cherry Cotta are presented in rows 2 to 30 . A statement for requirement 1 is presen Cherry Cotta makes custom ordered clay pots for residential gardens. Below is cost information regarding its latest job. a. Materials were purchased on account. b. A materials requisition form shows an amount of materials required for this job, 10% of which were used for general use. c. A labor time sheet shows the following. \begin{tabular}{l|l|r|rr|rr|} \hline \multicolumn{9}{c|}{ Job 345 } & \multicolumn{1}{c|}{ Role } & \multicolumn{2}{c|}{ Hours } & \multicolumn{2}{c|}{ Rate } & \multicolumn{2}{c|}{ Total } \\ \hline \multicolumn{1}{|c|}{ Employee } & Crafting & 23 & $ & 12.50 & $ & 287.50 \\ T. Walker & Firing & 18 & $ & 13.75 & $ & 247.50 \\ M. Foster & Maintenance & 6 & $ & 11.00 & $ & 66.00 \\ C. Watson & Supervisor & 10 & $ & 23.00 & $ & 230.00 \\ \cline { 3 - 7 } & & & & & 831.00 \\ \hline \end{tabular} d. The additional list below shows costs incurred. \begin{tabular}{|l|ll|} \hline Factory Utilities & $ & 395 \\ Advertising Expense & $ & 625 \\ Administrative Duties & $ & 348 \\ Factory Depreciation & $ & 487 \\ Factory Property Taxes & $ & 950 \\ \hline \end{tabular} e. At the beginning of the year, overhead costs and workload was estimated. Direct Labor hours drives the cost of overhead