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I am stuck on this question. Question 2 Kahanaoi Corporation is a manufacturer that uses job-order costing. The company: i) applies overhed to jobs on

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Question 2 Kahanaoi Corporation is a manufacturer that uses job-order costing. The company: i) applies overhed to jobs on the basis of direct-labor hours and ii) closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. All the transaction are on account. The company has supplied the following data for the just completed year: Beginning inventories: Raw materials ...................................................................................... $38,000 Work in process ................................................................................... $15,000 Finished goods ..................................................................................... $39,000 Estimated total manufacturing overhead at the beginning of the year. $708,000 Estimated direct labor-hours at the beginning of the year .................... 48,000 Results of operations: Raw materials purchased on account ..................................................... $453,000 Raw materials (all direct) requisitioned for use in production ............... $417,000 Direct labor cost ...................................................................................... $545,000 Actual direct labor-hours ........................................................................ 46,000 Manufacturing overhead: Indirect labor cost ............................................................................... $151,000 Other manufacturing overhead costs incurred ................................... $449,000 Selling and administrative: Selling and administrative salaries ...................................................... $193,000 Other selling and administrative expenses ......................................... $355,000 Cost of goods manufactured .................................................................. $1,558,000 Sales revenue .......................................................................................... $2,489,000 Cost of goods sold (unadjusted) ............................................................. $1,498,000 Required [Show all your calculations to receive full grade]: 1. What is the journal entry to record raw materials used in production? What is the journal entry to record the direct and indirect labor costs incurred during the year? What is the total amount of manufacturing overhead applied to production during the year? What is the total manufacturing cost added to Work in Process during the year? What is the journal entry to record the transfer of completed goods from Work in Process to Finished Goods? ls manufacturing overhead over or underapplied for the year? By how much? What is the journal entry to record the unadjusted cost of goods sold? What is the cost of goods available for the year? What is the gross margin for the year? PPS-\"P Pint\

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