Question 3 - 12 Points Part 1 Copy and paste the job cost sheet template below, to an Excel spreadsheet. Use the following data pertaining to GH Ltd.'s guitar manufacturing during the month of October, 2018 to complete the job cost sheet. GH Ltd accepted an order to manufacture eight guitars for Billy Mick's upcoming European tour on October 9, 2018. Costs relating to materials and labour for the eight guitars are as follows: Materials Requisition # Amount Wood DM - 105 $500 Strings DM - 106 $300 Tuners DM - 107 $200 Bridges DM - 108 $150 Pick Ups DM - 109 $150 Labour: DL type Craftsmen Assembly Timesheet # DL - 100 DL - 101 Hours 80 hours 15 hours Rate $30 per hour $20 per hour Manufacturing Overhead: GH Ltd allocated overhead using direct labour hours as the allocation base. Total direct labour hours for 2018 are estimated to be 1200 hours, and total overhead $87,000. + Number JOB COST SHEET Date initiated Date Completed Units Completed Department Description Overhead Direct Materials Reg. No. Amount Direct Labour Time-sheet Hours Amount DL hours Rate Amount Job Completion Status Progress to date Date Cost Summary Direct Materials Direct Labour Overhead Total Cost Unit Cost per guitar Part 2 1. If actual overhead for 2018 was $81,000 and applies overhead was 87,000, write the journal entry to adjust the overhead account at the end of the year. What impact will this adjustment have on the Income Statement? 2. If GH Ltd sets the price for guitars at 150% of total manufacturing cost, what will the eight guitar custom order price be for Billy Mick