JobCo Inc. uses a Job Cost System to value inventory and cost of goods sold. During the month of Feb. the following jobs were started and costs incurred: Job 101 102 103 104 105 Material Cost $ 1,000 $ 2,000 $ 1,200 $ 800 $ 500 Direct Labor Cost $ 5,000 $ 7,500 $ 4,000 $ 1,500 $ 3,000 Mfg. Overhead $ 10,000 $ 12,000 $ 8,000 $ 3,000 $ 6,000 Jobs 101,103 and 104 were completed during the month. Jobs 101 and 103 were sold for a total of $40,000. Required: A. Using the above information, complete the Job Cost Sheet below (assume no beginning inventory): Total Cost Location Job 101 102 103 104 105 Material Cost $ 1,000 $ 2,000 $ 1,200 $ 800 $ 500 Direct Labor Cost $ 5,000 $ 7,500 $ 4,000 $ 1,500 $ 3,000 Mfg. Ovehead $ 10,000 $ 12,000 $ 8,000 $ 3,000 $ 6,000 $ B Use the "T" accounts below to determine the ending inventory in WIP, and FG. Determine what the COGS is. Work in Process Invent. Finished Goods Invent. Cost of Goods Sold C. Calculate the Gross Profit