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please answer all parts Determine how much gross profit the company would report during the month of January before any adjustment is made for the

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Determine how much gross profit the company would report during the month of January before any adjustment is made for the overhesd batarices. Determine the amount of over or underapplied overhead. Chistopher's Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct tabor costs Inventory balances, at the beginning of the current year follow. The following transactions occurred during January: a. Purchased motentals on account for $27,300. b. Issued materials to production totaling $20,900,90 percent of which was traced to specific jobs and the remainder of which was treated as indirect materials. c. Payroli costs totaling $16,300 were recorded as follows: $11,000 for assembly workers $1.800 for tactory supervision $1,200 for administrative personnel $2,300 for sales commissions d. Recorded depreciation $5,700 for factory machines, $1,500 for the copher used in the administrative office. - Pecorded $1,200 of expled insurance. Forty percent was insurance on the manufacturing faclity, with the remainder classified as an administrative expense 4. Paid $6,500 in other foctory costs in cash. 9. Applied manufacturing overnead at a rate of 200 percent of direct laber cost h. Completed all jobs but one, the job cost sheet for the uncomplefed job shows $2.600 for direct materials, $2,200 for direct labor, and $4,400 for appled overtead i. Sold jobs costing $51.500. The revenue earned on these jobs was $66.950 Aequired: 1. Set up Taccounts, record the beginning balances, post the January transactions, and compute the final balance for the following accounts: h. Raw Matenals InvenMory b. Work in Process inventory. c. Finished Goods Inventory d. Cost of Goods Sold -. Manufacturing Overhead f. Selling, General, and Administrative Expenses. g. Sales Revenue 2. Defermine how much gross profit the company would report duing the month of January before any adjustment is made for the overteod balance. 3. Determine the amount of over- or underapplied overhead 4. Compute adjusted gross profit assuming that any over. or underapplied overhead balance is adjusted directly to Cost of Goods Sold. Compute adjusted gross profit assuming that ary over- or underapplied overhead balance is adjusted directly to. Cost of Goods Sold

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