K Stratton Manufacturing makes carrying cases for portable electronic devices. Its costing records yield the following information: (Click the icon to view the costing records.) Read the requirements Requirement 1. Which type of costing system is Stratton using? What piece of data did you base your answer on? Stratton uses a job order costing system. We know this because Stratton's costing records show costs being accumulated for each job. Requirement 2. Use the dates in the table to identify the status of each job at November 30 and December 31. Compute Stratton's account balances at November 30 for Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold. Compute, by job, account balances at December 31 for Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold. (If an input field is not used in the schedule, leave the input field empty; do not select a label or enter a zero) Prepare the November schedule first, followed by the December schedule Date Stratton Manufacturing Computation of Work-in-Process Inventory Finished Goods Inventory, and Cost of Goods Sold For November and December Cost of Goods Sold Work-in-Process Inventory Finished Goods Inventory Job Cost Job Cost Job November 30 Total Total Total Cost Data table Date Total Manufacturing Costs Added in December Requirements 1. Which type of costing system is Stratton using? What piece of data did you base your answer on? 2. Use the dates in the table to identify the status of each job at November 30 and December 31. Compute Stratton's account balances at November 30 for Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold. Compute, by job, account balances at December 31 for Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Job No. Started Finished Sold: Total Cost of Job at November 30 Job No. 1 11/03 11/12 11/13 $ 1,000 Job No. 2. 11/03 11/30 12/01 1,800, Job No. 3 11/17 12/24 12/27 500 $ 1,500 Job No. 4 11/29 12/29 1/03 900 1,400 Job No. 5 12/08 12/12 12/14 450 4. Job No. 61 12/23 1/06 1/09 300 5. Sold. 3. Prepare journal entries to record the transfer of completed jobs from Work-in-Process Inventory to Finished Goods Inventory for November and December Record the sale of Job 3 for $2,100 on account. What is the gross profit for Job 37 Print Done Print Done