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Sherborn Homes manufactures prefabricated chalets in Colorado. The company uses a perpetual inventory system and a job cost system in which each chalet is a job. The following events occurred during May: (i) (Click the icon to view the events.) Read the reguirements. Requirement 1. Record the events in the general joumal. (Record debits first, then credils. Exclude explanations from any journal entries.) Start with the entry from event (a). Purchased materials on acoount, $430,000. (b) Insurred total manufacturing wages of $112,000, which included both direct labor and indirect labor. a. Purchased materials on account, $430,000. b. Incurred total manufacturing wages of $112,000, which included both direct labor and indirect labor. Used direct labor in manufacturing as follows: c. Kequisitioned direct materials in manufacturing as follows: a. vepreciation of manufacturing equipment used on different chalets, $6,500. e. Other overhead costs incurred on Chalets 13-16: c. requisitionea airect materials in manufacturing as follows: a. vepreciation of manufacturing qquipment used on different chalets, $6,500. e. Other overhead costs incurred on Chalets 13-16: 1. Milocated overnead to jobs at the predetermined rate of 60% of direct labor cost. g. Chalets completed: 13,15 , and 16. h. Chalets sold on account: 13 for $99,000 and 16 for $147,000. Requirements 1. Record the preceding events in the general journal. 2. Post the appropriate entries to the T-accounts, identifying each entry by letter. Determine the ending account balances, assuming that the beginning balances were zero. 3. Summarize the job costs of the unfinished chalet and show that this equals the ending balance in Work in Process Inventory. 4. Summarize the job cost of the completed chalet that has not yet been sold and show that this equals the ending balance in Finished Goods Inventory. 5. Compute the gross profit on each chalet that was sold. What costs must the gross profit cover for Sherborn Homes