Problem 5 (30%) production department had budgeted allocation base direct manufacturing labor-hours. The Danish Furniture Company manufactures tables. In May, the The predetermined manufacturing overhead rate is $7 per labor-hour. For Job A, the actual costs incurred in the department were as follows: Direct materials purchased on account $110,000 Direct materials used Direct manufacturing labor Indirect manufacturing labor Indirect materials used Depreciation expense on equipment Utilities expense 32,500 52,500 11,000 7,500 16,250 1,000 Job A incurred 300 manufacturing labor-hours. The company uses a budgeted overhead rate for applying overhead to production. Required: a. Prepare the necessary journal entries to summarize the May transactions. b. What is the total cost of Job A? Prepare the necessary journal entries to reco completion of job A and later its sale for $130,000 cash. Problems LO L02 L02 LO2 LO3 LOS Total