During the month, Job #2 used specialized machinery for 350 hours and incurred $700 in utilities...

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During the month, Job #2 used specialized machinery for 350 hours and incurred $700 in utilities on account, $400 in factory depreciation expense, and $200 in property tax on the factory. Prepare journal entries for the following: a. Record the expenses incurred. b. Record the allocation of overhead at the predetermined rate of $1.50 per machine hour. During the month, Job #2 used specialized machinery for 350 hours and incurred $700 in utilities on account, $400 in factory depreciation expense, and $200 in property tax on the factory. Prepare journal entries for the following: a. Record the expenses incurred. b. Record the allocation of overhead at the predetermined rate of $1.50 per machine hour.