Job 7 Q2: Jobs Today uses Job Costing and had the following data for its jobs: Job 1 Job 3 Job 5 Beg. Work in Process Inv $3,010 $2,640 $1,170 Direct materials $13,600 $29,530 $21,790 Direct labor $23,600 $41,700 $33,500 Applied Overhead $16,520 $29,190 $23,450 Total Job Cost $56,730 $103,060 $79,910 $5,210 $10,910 $7,637 $23,757 Total $6,820 $70,130 $109,710 $76,797 a. Jobs 1, 3, and 7 were completed. Job 3 was sold for $163,000 cash and Job 5 was not completed. Prepare journal entries to record costs added this period (direct materials, direct labor, applied overhead), jobs completed, and jobs sold. Account Name DEBIT CREDIT b. Using the job cost sheet table and your journal entries, answer the following questions: Ending Work in Process Inv contains which job (or jobs) and what amount? Ending Finished Goods Inv contains which job (or jobs) and what amount? Cost of Goods Sold contains which job (or jobs) and what amount? How much gross profit was earned on Job A3