Root Manufacturing makes carrying cases for portable electronic devices. Its costing records yield the following information: (Click the icon to view the costing records.) Read the requirements. Requirement 1. Which type of costing system is Root using? What piece of data did you base your answer on? Root uses a system. We know this because Root's costing records show costs being accumulated for each Requirement 2. Use the dates in the table to identify the status of each job at November 30 and December 31. Compute Root's account balances at November 30 for Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold. Compute, by job, account balances at December 31 for Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold. (If an input field is not used in the schedule, leave the input field empty; do not select a label or enter a zero.) Prepare the November schedule first, followed by the December schedule. - X Root Manufacturing Data table Computation of Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold Date For November and December Total Manufacturing Date Work-in-Process Inventory Finished Goods Inventory Cost of Goods Sold Total Cost of Job Costs Added in Job Cost Job Cost Job Cost Job No. Started Finished Sold at November 30 December November 30: Job No. 1 11/03 11/12 11/13 $ 1,700 Job No. 2 11/03 11/30 12/01 1,300 Job No. 3 11/17 12/24 12/27 900 $ 1,400 Total Total Total Job No. 4 11/29 12/29 1/03 1, 100 1,400 Job No. 5 12/08 12/12 12/14 750 December 31: Job No. 6 12/23 1/06 1/09 600 otal Total Total Print Done Requirement 3. Prepare journal entries to record the transfer of completed jobs from Work-in-Process Inventory to Finished Go ast line of the journal entry table.) Record November's entry first. Date Accounts and Explanation Debit CreditRequirement 3. Prepare journal entries to record the transfer of completed jobs from Work-in-Process Inventory to Finished Goods Inventory for November and December. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Record November's entry first. Date Accounts and Explanation Debit Credit Nov. 30 Now record December's entry. Date Accounts and Explanation Debit Credit Dec. 31 Requirement 4. Record the sale of Job 3 for $2,400 on account. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) First, record the revenue related to the sale of job 3 on account. Date Accounts and Explanation Debit Credit TRequirement 4. Record the sale of Job 3 for $2,400 on account. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) First, record the revenue related to the sale of job 3 on account. Date Accounts and Explanation Debit Credit Now record the cost of goods sold for Job 3. Date Accounts and Explanation Debit Credit Requirement 5. What is the gross profit for Job 3? Compute gross profit for Job 3. Gross profit