Instructions: Please prepare the Job Costing Journaling and T- accounts for the project below. Your answers must be in Excel Spreadsheet format and should be submitted on Canvas. You must name the file with your last name, first name and project name. i.e. Diala_Lucy_Job Costing Project Fall2021 Project Question: Barney Incorporated is a printing company. The company uses normal costing to cost each job. Its job-costing system has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost pool (manufacturing overhead, allocated on the basis of direct manufacturing labor costs). The following data (in thousands) pertain to 2019: s 310 S 720 S 95 51100 S 295 5 5 450 500 Direct materials and suppliexpanded cold De trained Te directed Die manufacturing later Indirect acturing laberine yapach gar Depreciation building and Milangan manufactured by podaamalai naheimalala aayi Manufacturing overhead std 150of direct mencari Cases Reves Cost of prods sold be forced manevral Jevares December 31, 2018 2019 Material Work anPress Finished 54.100 SRO 1940 100 5 S 5 500 Required: 1. Prepare journal entries to summarize the 2019 transactions As your final entry, dispose of the year-end under-or overallocated manufacturing overhead as a write-off to Cost of Goods Sold. Number your entries. Explanations for each entry may be omitted. 2. Show posted T-accounts for all inventories. Cost of Goods Sold. Manufacturing Overhead Control, and Manufacturing Overhead Allocated 3. How did the company perform in 2019? Instructions: Please prepare the Job Costing Journaling and T- accounts for the project below. Your answers must be in Excel Spreadsheet format and should be submitted on Canvas. You must name the file with your last name, first name and project name. i.e. Diala_Lucy_Job_Costing Project_Fall2021 Project Question: Barney Incorporated is a printing company. The company uses normal costing to cost each job. Its job-costing system has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost pool (manufacturing overhead, allocated on the basis of direct manufacturing labor costs). The following data (in thousands) pertain to 2019: S 810 5 720 95 $ 1400 s x95 5 $ 450 500 Direct materials and supplies purchased on credit Direct materials used Indirect materials inued to various production departments Direct manufacturing labor Indirect manufacturing labor incurred by various production departments Degreciation on building and manufacturing equipment Miscellaneous manufacturing overhead incurred by various production departments (ordinarily would be detailed as spars photo wingilites etc Manufacturing overhead allocated at 150% of direct menufacturing labor costs Cats of goods and factured Rever Cost of goods sold before adjustment for under overallocated manufacturing overhead) Inventories December 31, 2011 2019 Materials Control Work in Process Control Finished Goods Control $ 5 S 4.100 8.000 3.950 S S 100 60 500 Required: 1. Prepare journal entries to summarize the 2019 transactions. As your final entry, dispose of the year-end under-or overallocated manufacturing overhead as a write-off to Cost of Goods Sold. Number your entries. Explanations for each entry may be omitted. 2. Show posted T-accounts for all inventories, Cost of Goods Sold, Manufacturing Overhead Control, and Manufacturing Overhead Allocated. 3. How did the company perform in 2019