94. EX.19.183 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 July 1 Balance Direct materials Direct labor 60,200 147,000 120,000 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. Journalize the entries for (1) the application of factory overhead to production during July and (2) the jobs completed during July. If an amount box does not require an entry, leave it blank. 1. 2. b. What is the balance of the factory overhead account on July 31? $ c. Was factory overhead over- or underapplied on July 31? d. Determine the balance of Work in Process on July 31. $