Problem 3 - Spoilage, Rework, and Scrap (20 Points) The West Corporation has an extensive job-costing facility that uses a variety of metals. Job #10 uses a particular metal alloy that is not used for any other job. Assume that the job generates normal scrap with a total sales value of $480. Prepare the journal entries for the recognition of scrap, assuming the following. Consider each requirement independently. 1. The value of the scrap is immaterial and scrap is recognized at the time of sale. 2. The value of the scrap is material, is related to a specific job, and is recognized at the time of sale. 3. The scrap generated is common to all jobs, material in amount, and sold quick after it is produced. 4. Suppose the scrap generated in requirement 3 is returned to the storeroom for future use. A month later, the scrap is reused as direct material on a subsequent job