Watkins Machinery Company uses a normal job costing system. The company has the following portial trial balance information for March, the last month of its fliscal yeat: a. Purchased difect materials and indirect materials with the following summary of recelving reports: b. Issued direct materials and indirect materiais with this summary of requisitions 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: 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 incurfed 1,200 machine hours; Job 102 used 800 machine hours. f Job 101 was completed; Job 102 was still in process at the end of March. 9. Job 100 and Job 101 were shipped to customets during Merch. 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 underopplied. 4. Close the overhead varlance to the Cost of goods sold account