Osborn Company is a manufacturer that uses job order costing. The following accounts appeared in Osborn's ledger as December 31. RAW MATERIAL WORK IN PROCESS BEG 21,000 BEG 17,000 ? DM ? ? DL ? ? 7 END 36,000 END 19,000 FINISHED GOODS COGS BEG 12,000 710,000 ? ? END 20,000 MFGT. OVERHEAD ? A/PAYABLE WAGES PAYABLE SALES 2,500 BEG 2,000 BEG ? 136,500 ? 147,000 ? 1,000 END 5,000 END A/RECEIVABLE BEG 11,000 ? 806,000 END 15,000 Additional information a. Accounts payable is used only for direct-material purchases. No indirect material b. Underapplied overhead of $2,500 for the year has not been closed into the cost of goods sold. Required: 1. What is the Journal entry to record material used in production? 2. What is the journal entry to assign the labor cost incurred during the year? Assume no indirect labor cost 3. What is the journal entry to record the transfer of completed jobs during the year? 4. How much is the OH applied to production during the year? 5. What is the total manufacturing cost added to WIP during the period? 6. What is the total amount of actual OH costs incurred during the year? 7. What is the cost of goods available for sale during the year? 8. Provide the journal entry to adjust the COGS at the end of the year 9. What is the gross margin for the year?