Problem 1 (20 points). RG Enterprises makes custom dies for manufacturing. RG opened for business on January 1, 2022. During the month the following events occurred. 1. Materials requisitioned from the "Raw Materials" inventory: $50,000 of direct materials. The direct materials were used in the following amounts for the following jobs: Job#001-$25,000Job#002-20,000Job#003-5,000 Additionally $10,000 of indirect materials was pulled from Supplies Inventory for use for the maintenance crew. 2. Accrued payroll of $110,000. Of that amount, $30,000 was for indirect labor. Work tickets show the following amounts of direct labor were used on jobs: Job#001-Job#002-Job#003-$40,00030,00010,000 3. Incurred overhead costs of $40,000, broken down as follows: - $10,000 accrual of property taxes, - $10,000 for rent prepaid rent, - $20,000 of depreciation on factory equipment, and 4. Paid $5,000 in cash for advertising campaign in "Manufacturing Today" magazine. 5. Overhead is assigned to jobs at a rate of 105% of direct labor cost. 6. Completed Job \#1 and Job\#2. Jobs transferred to finished goods. 7. Sold job \#1 on account for $200,000. Required: (show calculations if you want partial credit where appropriate) 1. Calculate the total costs associated with Job \#1? (6 points) (2) What is the ending balance in "Work in Process" on January 31 ? (6 points) (3) Calculate the over- or underapplied overhead amount for January 2022 for RG Enterprises. (4) points 2 (4) What is the net income for RG Enterprise for January, 2022 (after adjustment for any over or underapplied overhead)? (4 points)