Watson Manufacturing Company employs a job order cost accounting system and keeps perpetual inventory records. The following transactions occurred in the first month of operations:$1).$ Direct materials requisitioned during the month:Job $101$ $$25,000$Job $10223,000$Job $10324,000$$$72,0002).$ Direct labor incurred and charged to jobs during the month was:Job $101$ $$33,000$Job $10236,000$Job $10327,000$$$96,0003).$ Manufacturing overhead was applied to jobs worked on using a predetermined overhead rate based on $70\%$ of direct labor costs$\mathrm{.}4).$ Actual manufacturing overhead costs incurred during the month amounted to $$76,000\mathrm{.}5).$ Job $101$ consisting of $1,000$ units and Job $103$ consisting of $200$ units were completed during the month.Instructions:Prepare journal entries to record the above transactions. $(5)($b$)$ Answer the following questions:$1.$ How much manufacturing overhead was applied to Job $103$ during the month? $\_\_\_\_\_\_\_\_\_\_\_\_\mathrm{.}2.$ Compute the unit cost of Jobs $101$ and $103.\_\_\_\_\_\_\_\_\_\_\_\mathrm{.}3.$ What is the balance in Work In Process Inventory at the end of the month? $\_\_\_\_\_\_\_\_\_\mathrm{.}4.$ Determine if manufacturing overhead was under$-$ or overapplied during the month. How much? $\_\_\_\_\_\_\_\_\_.$Watson Manufacturing Company employs a job order cost accounting system and keeps perpetual inventory records. The following transactions occurred in the first month of operations:$1).$ Direct materials requisitioned during the month:Job $101$ $$25,000$Job $10223,000$Job $10324,000$$$72,0002).$ Direct labor incurred and charged to jobs during the month was:Job $101$ $$33,000$Job $10236,000$Job $10327,000$$$96,0003).$ Manufacturing overhead was applied to jobs worked on using a predetermined overhead rate based on $70\%$ of direct labor costs$\mathrm{.}4).$ Actual manufacturing overhead costs incurred during the month amounted to $$76,000\mathrm{.}5).$ Job $101$ consisting of $1,000$ units and Job $103$ consisting of $200$ units were completed during the month.Instructions:Prepare journal entries to record the above transactions. $(5)($b$)$ Answer the following questions:$1.$ How much manufacturing overhead was applied to Job $103$ during the month? $\_\_\_\_\_\_\_\_\_\_\_\_\mathrm{.}2.$ Compute the unit cost of Jobs $101$ and $103.\_\_\_\_\_\_\_\_\_\_\_\mathrm{.}3.$ What is the balance in Work In Process Inventory at the end of the month? $\_\_\_\_\_\_\_\_\_\mathrm{.}4.$ Determine if manufacturing overhead was under$-$ or overapplied during the month. How much? $\_\_\_\_\_\_\_\_\_.$