Please help, thank you!

(a) Compute the costs of work-in-process and finished goods as at 31st March 2014.

(b) Compute the gross profit for the 1st quarter of 2014.

(c) Prepare all necessary journal entries to record the following transactions. Journal narrations

are not required.

(1) The incurrence of direct material and factory overhead costs for the 1st quarter of

2014.

(2) The flow of direct materials, direct labour and factory overhead costs to work-inprocess,

finished goods and cost of goods sold during the 1st quarter of 2014.

(3) The delivery of job(s) completed in the 1st quarter of 2014.

(4) The closing of under or over applied factory overhead as at end of 1st quarter, 2014.