Required: 1. Complete the T-Accounts below. Raw Materials Work In Process Finished Goods Debit Credit Debit Credit Debit Credit 4,685 12,450 5,628 1,260 16,867 18,996 11,205 11,231 831 15,607 3,420 Cost of Goods Sold 21,084 Sales Revenue Debit Credit Debit Credit Salaries/Wages Payable 22,000 Debit Credit 22,000 831 Period Cost 831 Debit Credit 973 Manufacturing Overhead 973 Debit Credit 1,245 3,420 1,832 3,077 2,734 Note: When calculating amounts below, use the total in the T-Accounts. 2. Determine the Cost of Goods Manufactured. Cost of Goods ManufacturedCherry Cotta makes custom ordered clay pots for residential gardens. Below is cost information regarding its latest job. a. Materials were purchased on account. 3 18,996 b. A materials requisition form shows an amount of materials required for this job, 10% of which were used for general use. c. A labor time sheet shows the following. Job 345 Employee Role Hours Rate Total T. Walker Crafting 23 (8 12.50 | & 287.50 M. Foster Firing 188 13.75 | & 247.50 C. Watson Maintenance 6|8 11.00( & 66.00 K. Willis Supervisor 108 23.00| % 230.00 5 831.00 d. The additional list below shows costs incurrad. Factory Utilities 3 395 Advertising Expense 3 625 Administrative Duties 5 348 Factory Depreciation 3 487 Factory Property Taxes 5 950 e. At the beginning of the year, overhead costs and workload was estimated. Direct Labor hours drives the cost of overhead. Estimated Overhead Cost 5 90,000 Estimated Direct Labor Hours 1,500 . By month's end, all previous jobs were completed, but only 80% of the pots started this month were completed. g. 90% of the previous batch of pots were sold, while 70% of the pots completed this month were sold. $ 30% 22,000 S 12,450 Total Sales 10% 90% 70% Note: When calculating amounts below, use the total in the T-Accounts. 2. Determine the Cost of Goods Manufactured. Cost of Goods Manufactured 3. Create a journal entry to dispose of the Over/Underapplied Overhead. 3/31/2022 4, Determine the Cost of Goods Sold after disposing of the Over/Underapplied Overhead. Cost of Goods Sold 5. Determine the Gross Profit for the month. Gosspofit [ ]