There is no direct materials for this problem

31 Calculating the Cost of Jobs and Making Journal Entries for a Service Company. Management Consulting, Inc., provides consulting services and began operations on September 1. It began jobs 1 through 4 during the first half of September. The following transactions occurred during that time. 1. Purchased supplies on account totaling $6,000 2. Used supplies totaling $3,200 for various jobs 3. Processed timesheets showing the following: Job 1, direct labor (200 hours) Job 2, direct labor (240 hours) Job 3, direct labor (40 hours) Job 4, direct labor (15 hours) Indirect labor Total $ 6,000 6,800 2,200 350 3,600 $ 18,950 4. Applied overhead using a predetermined rate of 120 percent of direct labor cost 5. Completed jobs 1 and 2 and billed the customers $20,000 and $21,000, respectively. (Hint: Two entries are required one for the cost of services and another for revenue.) Required: 1. Calculate the costs incurred in September for each of the four jobs. 2. Make the appropriate journal entry for each item described previously. Assume all payments will be made next month. (Hint: Use examples as a guide.) 3. How much gross profit did Management Consulting, Inc., earn from job 1 and job 2? What is the amount in work in process at the end of the first half of September