Lighting Systems Inc. manufactures custom high-end lighting systems for theatrical venues in the Los Angeles area. The company uses the normal costing method in a job costing system to account for its manufacturing costs. During the month of June, the company only had two jobs that were in production - Job # LSI-100 and Job # LSI-101. Job # LSI- 100 was started the last week of May (the only cost added in May was direct material) and was completed and shipped to the customer on June 28th. Job # LSI-101 was started in the month of June and was not completed at the end of June. The following is the cost information for the Month of June and other relevant information. Materials purchased and requisitioned in June: Raw Materials purchased during June Direct Materials requisitioned and used on job # LSI-100 Direct Materials requisitioned and used on job # LSI-101 Material requisitioned and used as indirect materials in June $ $ $ $ 12,000 5,000 4,200 1,200 Direct and Indirect Labor incurred in June: Direct Labor hours incurred for Job # LSI-100 Direct Labor hours incurred for Job # LSI-101 Indirect Labor wages paid in June 90 130 625 $ Other Expenses incurred in June: Other Fixed & Variable Factory Overhead expenses Fixed & Variable Selling & Administrative expenses $ $ 1,065 1,160 $ $ 900 1,400 $0 $ 12.00 Other relevant information: The beginning Raw Material Inventory on June 1 The beginning Work in Process Inventory on June 1 The beginning Finished Goods Inventory on June 1 The Company determines it POHR using Direct Labor Hours as the cost driver. The POHR for the accounting period is $12.00 per Direct Labor Hour Direct Labor cost per hour Any overapplied or underapplied overhead is adjusted to the cost of goods sold account at the end of the month (regardles of jobs completed) The sales price of a job is calculated using the Company standard markup of 30% of the total cost of the Job. $ 25.00 Complete the Job Cost Sheets for for June for each job Job Cost Sheet for Job #: Description of cost $ amount Total Cost of Job Job Cost Sheet for Job #: Description of cost $ amount Total Cost of Job 2 What is the dollar balance in general ledger as of June 30 for each inventory accounts: $ amount Raw Material Inventory: Work in Process Inventory: Finished Goods Inventory: 3 What is the unadjusted balance in the FOH account and state whether FOH is Overapplied or Underapplied as of the end of June. show your calculations and label your answer Prepare the journal entry to record the completion of the job(s) in June Account Debit Credit 5 On the Income Statement for the month of June for Lighting Systems Inc. what is the amount of Gross Margin that would be shown? show your calculations and label your