Problem 9) AME Company charges factory overhead to production at a predetermined rate based on direct labor cost. The rate has remained the same for the last two years. The following data are given on its production: WIP, Jan. 1: Direct Materials Direct Labor Applied FOH Current Factory costs: Direct Materials Direct Labor Applied FOH Job # 12 Job # 13 Job # 14 Job # 15 Total 8,000 15,000 23,000 3,200 6,500 9,700 1,920 3,900 5,820 3,200 8,500 18,000 9,500 39,000 1,200 3,150 7,500 2,700 14,550 ? ? ? ? ? Job Nos. 12, 13 and 14 were completed during the year. Job Nos. 12 and 14 were sold at 180% of cost. The current year's postings to the Factory Overhead Control account amounted to P11,640. The variance is considered insignificant. Required: 1) Give the journal entry to close Factor overhead Control and Applied Factory Overhead accounts. 2) Give the entry to close over or under applied overhead. 3) What is the balance of Work in Process, End? 4) What is the balance of Finished Goods Inventory at the end of the period?