Sarah's Holiday Styles has been busy in the month of November! It seems Sarah's marketing efforts have paid off, as she has answered mamy calls to help decorate homes for the upcoming holidays. The compary carries an imentory of decorative items in its store and then installs them in creative and fun ways. The MOH costs are fairly low, since the compary has just a small space to hold the inventory. The applied MOH rate is $10 per direct labor hour. As of November 30 , the company carries the following balances in its inventory accounts. During December, the following events occurred. 1. Purchased direct materials costing $16,300 on account. 2. Used $20,900 of direct materials for jobs. 3. Pald direct labor wages for 143 hours of labor ($25/hr). 4. Applied MOH cost to jobs. 5. Actually incurred $3,700 in MOH costs. 6. Completed all jobs by the end of the month. 7. Biled clients $49.200 for ipbs completed. 8. Closed under-or everapelied MOHusing the direct write-off method Calculate the ending balances in all inventory accounts as of December 31 . Prepare the journal entry to write off any under-or overapplied MOH directly to COGS. (Credit account titles are outomotically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries) Determine the company's total cost of goods completed and COGS in December. Total cost of goods completed and COGS \$ How much gross margin did the company earn in December? (Round percentage onswer to 2 decimal places, es 5275% ) Gross margin Gross margin percentage % If Sarah had a goal of earning a 35% gross margin, did she reach her goal? How much gross margin did the company earn in December? (Round percentage onswer to 2 decimal places, es 5275% ) Gross margin Gross margin percentage % If Sarah had a goal of earning a 35% gross margin, did she reach her goal? How much gross margin did the company earn in December? (Round percentage answer to 2 decimal places, eg. 52.75\%) If Sarah had a goal of earning a 35% gross margin, did she reach her goal? How much gross margin did the comparny earn in December? (Round percentoge answer to 2 decimal places, eg. 52.75% ) Gross margin Gross margin percentage % If Sarah had a goal of earning a 35% gross margin, did she reach her goal? she reach her goal, because % is than her goal of 35% eTextbook and Media Atremprs: 0 of 2 used