1.33/4 III Question 4 of 4 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 titles are automatically indented when amount is entered. Do not indent manually) Debit Credit No. Account Titles and Explanation (1) Work in Process inventory Raw Materials twentory Work in Process inventory Factory 03) W Procesory MIT Question 4 of 4 1.33/4 Waterway 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 $ 22.400, direct labor 5 13,440, and manufacturing overhead $ 17,920. As of January 1, Job 49 had been completed at a cost of $ 100,800 and was part of finished goods inventory. There was a $ 16.800 balance in the Raw Materials Inventory account. During the month of January Waterway Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and so were also sold on account during the month for 5 136,640 and $ 176,960, respectively. The following additional events occurred during the month 1 2 3 Purchased additional row materials of 5 100.800 on account incurred factory sbor costs of 578 400. Of this amount $17.920 related to employer payroll taxes curved manufacturing overhead costs as follows indirect materials $19.040 indirect labor 5 22.400, depreciation expense on equipment 5 134 and various other manufacturing overhead costs on account $17.920 Addret materials and direct labor to jobs as follows Dheet Materials Direct Labor 5 ZOD Question 4 of 4