Cherry Cotta makes custom ordered clay pots for residential gardens. Below is cost information regarding its latest job.

Materials were purchased on account. $$18,996$ purchased

A materials requisition form shows an amount of materials required for this job, $10\%$ of which were used for general use. $$12,450$ requested

A labor time sheet shows the following.

Job $345$EmployeeRoleHoursRateTotalT. WalkerCrafting$23$$ $12\mathrm{.}50$$ $287\mathrm{.}50$M$.$ FosterFiring$18$$ $13\mathrm{.}75$$ $247\mathrm{.}50$C$.$ WatsonMaintenance$6$$ $11\mathrm{.}00$$ $66\mathrm{.}00$K$.$ WillisSupervisor$10$$ $23\mathrm{.}00$$ $230\mathrm{.}00$$ $831\mathrm{.}00$

The additional list below shows costs incurred.

Factory Utilities$ $395$Advertising Expense$ $625$Administrative Duties$ $348$Factory Depreciation$ $487$Factory Property Taxes$ $950$

At the beginning of the year, overhead costs and workload was estimated. Direct Labor hours drives the cost of overhead.

Estimated Overhead Cost$ $90,000$Estimated Direct Labor Hours$1,500$

By month's end, all previous jobs were completed, but only $80\%$ of the pots started this month were completed. $$22,000$Total Sales

$90\%$ of the previous batch of pots were sold, while $70\%$ of the pots completed this month were sold.

Required:

Complete the T$-$Accounts below.

Determine the Cost of Goods Manufactured.

Create a journal entry to dispose of the Over$/$Underapplied Overhead.

Determine the Cost of Goods Sold after disposing of the Over$/$Underapplied Overhead.

Determine the Gross Profit for the month.

Note: When calculating amounts below, use the total in the T$-$Accounts.

Please use the t accounts name and show excel formulas

Cherry Cotta makes custom ordered clay pots for residential gardens. Below is cost information regarding its latest

Job.

a$.$ Materlals were purchased on account. $$18,996$ purchased

b$.$ A materials requisition form shows an amount of materlals required for this Job, $10\%$ of which were used for

general use. $$12,450$ requested

c$.$ A labor time sheet shows the following.

d$.$ The additional list below shows costs incurred.

e$.$ At the beginning of the year, overhead costs and workload was estimated. Direct Labor hours drives the cost of

overhead.

Estimated Overhead cost $ $$90,000$

Estimated Direct Labor Hours $1,500$

f$.$ By month's end, all prevlous Jobs were completed, but only $80\%$ of the pots started this month were completed.

$$22,000$ Total Sales

g$.90\%$ of the previous batch of pots were sold, while $70\%$ of the pots completed this month were sold.

Required:

Complete the T$-$Accounts below.

Determine the Cost of Goods Manufactured.

Create a journal entry to dispose of the Over$/$Underapplied Overhead.

Determine the Cost of Goods Sold after disposing of the Over$/$Underapplied Overhead.

Determine the Gross Profit for the month.