ACCT 310 Fall 2023 Exam 1A page 2 PART B (25 Points) Show all work and label all numbers. Garnet Company applies overhead based on direct labor hours. Normal spoilage, averaging 8% of units produced, occurs throughout the production process, and is therefore included in the applied overhead rate of $60 per direct labor hour. Spoiled units have an average salvage value of $20 per unit. The following data refer to Job TA02, which was started and completed during the current period: Number of units Direct materials Direct labor Spoiled units {:[6","000],[1","600" pounds@ "$37.50" per pound "],[2","400" direct labor hours @ "$40" per hour "],[600]:} REQUIRED Part 1. Assume that the spoilage was specific to Job TA02. Prepare the journal