Watkins Machinery Company uses a normal job costing system. The company has the following partial trial balance information for March, the last month of its fiscal year: a. Purchased direct materials and indirect materials with the following summary of receiving reports: b. Issued direct materials and indirect materials with this summary of requisitions: c. Factory labor incurred is summarized by these time tickets: d. Factory utilities, factory depreciation, and factory insurance incurred is summarized as follows: e. Factory overhead costs were applied to jobs at the predetermined rate of $15 per machine hour. Job 101 incurred 6,600 machine hours; Job 102 used 4,400 machine hours. f. Job 101 was completed; Job 102 was still in process at the end of March. g. Job 100 and Job 101 were shipped to customers during March. Both jobs had gross margins of 20% based on manufacturing cost. h. The company closed the overapplied or underapplied overhead to the Cost of Goods Sold account at the end of March. Required: 1. Prepare journal entries to record the transactions for the events from parts (a) through (g). 2. Compute the ending balance of the Work-in-process inventory account. 3. Compute the overhead variance and indicate whether it is overapplied or underapplied. 4. Close the overhead variance to the Cost of goods sold account. Prepare journal entries to record the transactions for the events from parts (a) through (g). (If no entry is required for a ransaction/event, select "No journal entry required" in the first account field.) Complete this question by entering your answers in the tabs below. Compute the ending balance of the Work-in-process inventory account. ompute the overhead variance and indicate whether it is overapplied or underapplied. Journal entry worksheet To record the disposition of underapplied factory overhead by closing the Factory overhead account to the Cost of goods sold account. Note: Enter debits before credits