The following account appears in the ledger after only part of the postings have been completed for July, the first month of the current fiscal year:

Work in Process
Balance, July 1
60,200

Direct materials
147,000

Direct labor
120,000


Factory overhead is applied to jobs at the rate of 60% of direct labor cost. The actual factory overhead incurred for July was $75,000. Jobs completed during the month totaled $301,200.

(a) Prepare the journal entries to record (1) the application of factory overhead to production during July and (2) the jobs completed during July.

(b) What is the balance of the factory overhead account on July 31?

(c) Was factory overhead overapplied or underapplied on July 31?

(d) Determine the cost of the unfinished jobs on July 31.