Julie's Country Club Golf Shop manufactures custom golf clubs. On March 1, 2 jobs were in process: Oak Clubs, which a beginning balance of $15,000, and Poplar Clubs, which had a beginning balance of $9,000. During the month of March, two additional jobs were started: Magnoli Clubs and Pine Clubs. Additionally, during the month, all Oak Clubs and Poplar Clubs were sold. Magnolia Clubs and Pine Clubs remained in progress at the end of the month. During the month, the following costs were incurred for each job: Direct Labor wages averaged $30 per direct labor hour during the period. The company uses a traditional, normal costing system to allocate manufacturing overhead to production. The predetermined manufacturing overhead rate calculated at the beginning of the year was $10 per direct labor hour. Actual manufacturing overhead for the month of March was $4,000. Given that MOH is closed to Cost of Goods Sold at the end of each month, and the company uses a cost plus 15% markup to price their products, which of the following statements is correct? Gross Profit reported on March's income statement was $8,035. The ending Work-in-Progress Inventory reported on March's balance sheet was $41,600. Sales Revenue for the month of March was $27,255. Manufacturing overhead was underallocated by $700 during the month of March. At the end of the month, two projects were "completed but not sold