Q1: Rafael Nadal Company produces high quality of Tennis Rackets. In March 2019, it worked on only two jobs, regular and supreme March 2019 Regular Supreme DM $90,000 $52,000 Direct manufacturing labor cost 280,000 208,000 Direct manufacturing labor is paid at the rate of $26 per hour. Manufacturing overhead costs are allocated at a budgeted rate of $20 per direct manufacturing labor-hour. Only Supreme Tennis Rackets was completed in March. Required: 1. Calculate the total cost for Supreme Tennis Rackets. 2. If 3,000 Supreme Tennis Rackets is produced. Calculate the cost per Tennis Rackets, and if sales price per Supreme Tennis Rackets is $140 what is the gross margin? 3. Prepare the journal entry transferring Job Supreme to finished goods. 4. What is the ending balance in the Work-in-Process Control account