Veon Homes manufactures prefabricated chalets in Colorado. The company uses a perpetual inventory system and a job cost system in which each chalet is a job. The following events occurred during May:

Purchased materials on account, $490,000. . Incurred total manufacturing wages of $115,000, which included both direct labor and indirect labor. Used direct labor in manufacturing as follows: b. Direct Labor Chalet 13 14,200 Chalet 14 28,500 Chalet 15 19,900 Chalet 16 21,900 Requisitioned direct materials in manufacturing as follows: . Direct Materials Chalet 13 41,400 Chalet 14 56,700 Chalet 15 62,400 Chalet 16 66,500 Depreciation of manufacturing equipment used on different chalets, $6,300 d. Other overhead costs incurred on Chalets 13-16: . $ Equipment rentals paid in cash 10,600 8,000 Prepaid plant insurance expired CA f. Allocated overhead to jobs at the predetermined rate of 60% of direct labor cost. Chalets completed: 13, 15, and 16 Chalets sold on account: 13 for $92,000 and 16 for $141,000 g. h. 2. Post the appropriate entries to the T-accounts, identifying each entry by letter. Determine the ending account balances, assuming that the beginning balances were zero. 3. Summarize the job costs of the unfinished chalet and show that this equals the ending balance in Work in Process Inventory. 4. Summarize the job cost of the completed chalet that has not yet been sold and show that this equals the ending balance in Finished Goods Inventory. 5. Compute the gross profit on each chalet that was sold. What costs must the gross profit cover for Veon Homes