Show Attempt his Current Attempt in Progress Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020. Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $22.800. direct labor $13.680, and manufacturing overhead $18.240. As of January 1. Job 49 had been completed at a cost of $102.600 and was part of finished goods inventory. There was a $17.100 balance in the Raw Materials Inventory account. During the month of January, Lott Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were also sold on account during the month for $139.080 and $180. 120. respectively. The following additional events occurred during the month. 1. 2. 3. Purchased additional raw materials of $102.600 on account. Incurred factory labor costs of $79.800. Of this amount $18.240 related to employer payroll taxes. Incurred manufacturing overhead costs as follows: indirect materials $19.380: indirect labor $22.800: depreciation expense on equipment $13.680: and various other manufacturing overhead costs on account $18,240. Assigned direct materials and direct labor to jobs as follows. 4. Job No. Direct Materials Direct Labor 50 $5.700 51 $11.400 44,460 34,200 28.500 52 22,800 Question 7 of 7 1.65 / 4 TIL Part 3 Prepare the journal entries to record the assignment of (1) direct materials, (2) direct labor, and (3) manufacturing overhead costs to production. In assigning manufacturing overhead costs, use the overhead rate calculated in (a). (Credit account tities are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (2) I (3) e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Sulomit Answer Using multiple attempts will impact your scorel Question 7 of 7