Please help me answer this part

The University of Delaware Press is wholly owned by the university. It performs the bulk of its work for other university departments, which pay as though the press were an outside business enterprise. The press also publishes and maintains a stock of books for general sale. The press uses normal costing to cost each job. Its job-costing system has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost pool (manufacturing overhead, allocated on the basis of direct manufacturing labor costs). The following data (in thousands) pertain to 2017: II. IL - !---I --------- Direct materials and supplies purchased on credit $ 880 Direct materials used 760 Indirect materials issued to various production departments 140 Direct manufacturing labor 1,320 Indirect manufacturing labor incurred by various production departments 950 Depreciation on building and manufacturing equipment 470 Miscellaneous manufacturing overhead* incurred by various production departments (ordinarily would be detailed as repairs, photocopying, utilities, etc.) 510 Manufacturing overhead allocated at 180% of direct manufacturing labor costs ? Cost of goods manufactured 4,130 Revenues 8,700 Cost of goods sold (before adjustment for under-or overallocated manufacturing overhead) 4,090 Inventories, December 31, 2016 (not 2017): Materials Control 150 Work-in-Process Control 75 Finished Goods Control 570 *The term manufacturing overhead is not used uniformly. Other terms that are often encountered in printing companies include job overhead and shop overhead. Requirement 2. Prepare journal entries to summarize the 2017 transactions. As your final entry, dispose of the year-end under-or overallocated manufacturing overhead as a write-off to Cost of Goods Sold. Number your entries. Explanations for each entry may be omitted. (Record debits first, then credits. Exclude explanations from any journal entries.) Direct materials and supplies purchased on credit, $880. Journal Entry Accounts Debit Credit (In thousands) (1) Materials Control 880 Accounts Payable Control 880 Record the direct materials used, $760. Journal Entry Accounts Debit Credit (In thousands) (2) 760 Work-in-Process Control Materials Control 760 Record the indirect materials used, $140. Journal Entry Accounts Debit Credit (In thousands) 140 140 (3) Manufacturing Overhead Control Materials Control Record the cost of the direct and indirect labor used in production, $1,320 and $950, respectively. (Combine the entries to record direct and indirect labor into one entry) Journal Entry Accounts Debit Credit (In thousands) (4) Work-in-Process Control 1,320 Manufacturing Overhead Control 950 Wages Payable Control 2,270 Record the entry for depreciation, $470. Journal Entry Accounts Debit Credit (In thousands) 470 470 (5) Manufacturing Overhead Control Accumulated Depreciation - Buildings and Manuf. Equipment Record the miscellaneous manufacturing overhead costs, $510. Journal Entry Accounts Debit Credit (In thousands) 510 510 (6) Manufacturing Overhead Control Miscellaneous Accounts Record the allocation of the manufacturing overhead. Journal Entry Accounts Debit Credit (In thousands) 2,376 2,376 (7) Work-in-Process Control Manufacturing Overhead Allocated Record the cost of goods manufactured, $4,130. Journal Entry Accounts Debit Credit (In thousands) 4,130 4,130 (8) Finished Goods Control Work-in-Process Control Record the revenues, $8,700. Journal Entry Accounts Debit Credit (In thousands) 8,700 8,700 (9) Accounts Receivable Control Revenues Record the cost of goods sold, 54.090. Journal Entry Accounts Debit Credit (In thousands) 4,090 4,090 (10) Cost of Goods Sold Finished Goods Control Dispose of the year-end under-or overallocated manufacturing overhead. Journal Entry Accounts (11) Manufacturing Overhead Allocated Manufacturing Overhead Control Cost of Goods Sold Debit Credit (In thousands) 2,376 2,070 306 Requirement 3. Show posted T-accounts for all inventories, Cost of Goods Sold, Manufacturing Overhead Control, and Manufacturing Overhead Allocated. Post entries (1) through (11) to the accounts below, then calculate the ending balance in each account. The beginning balances have been entered, now enter the apppropriate amounts into the T-accounts from the journal entries. (For accounts with a $0 balance leave the balance line blank.) Review the journal entries from requirement 2. Work-in-Process Control Manufacturing Overhead Control 140 (11) 950 Materials Control 150 880 (3) Bal. (2) 760 Bal. (8) 4,130 2,070 75 760 (1) 140 1,320 (3) (4) (5) (6) Bal. (2) (4) (7) Bal. 470 510 2,376 401 Bal. 130 Bal. Bal. Bal. Finished Goods Control 570 (10) 4,130 Cost of Goods Sold 4,090 (11) Manufacturing Overhead Allocated 2,376 4,090 (10) 306 (11) Bal. (8) (7)' 2,376 Bal. Bal. 610 Bal. Bal. 3,784 Bal. Bal. 1. Identify the components of the overview diagram of the job-costing system at the University of Delaware Press. 2. Prepare journal entries to summarize the 2017 transactions. As your final entry, dispose of the year-end under-or overallocated manufacturing overhead as a write-off to Cost of Goods Sold. Number your entries. Explanations for each entry may be omitted. 3. Show posted T-accounts for all inventories, Cost of Goods Sold, Manufacturing Overhead Control, and Manufacturing Overhead Allocated. 4. How did the University of Delaware Press perform in 2017? Requirement 4. How did the University of Delaware Press perform in 2017? (Round your answer to the nearest whole percent.) Delaware Press' gross margin percentage of % is This indicates that University of Delaware Press in 2017. Gross margins above 30% are generally considered very good