Account Titles and Explanation Debit Credit Work in Process Inventory Manufacturing Overhead Rawohaterials inventory Work in Process Inventory Manufacturing Overhead Factory Labor Work in Process Inventory Manufacturing Overhead Crane Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1 2022.Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $20,800, direct labor $12,480, and manufacturing overhead $16,640. As of January 1, Job 49 had been completed at a cost of $93,600 and was part of finished goods inventory. There was a $15.600 balance in the Raw Materials Inventory account on January 1 During the month of January, Crane Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were sold on account during the month for $126,880 and $164,320, respectively. The following additional events occurred during the month 1 2 3 Purchased additional raw materials of $93,600 on account Incurred factory labor costs of $72,800. Incurred manufacturing overhead costs as follows: depreciation expense on equipment $12,480: and various other manufacturing overhead costs on account $16,640. Assigned direct materials and direct labor to jobs as follows. 4. TOYOTGUVUVI 2. 3 Incurred factory labor costs of $72,800. Incurred manufacturing overhead costs as follows: depreciation expense on equipment $12,480; and various other manufacturing overhead costs on account $16,640. Assigned direct materials and direct labor to jobs as follows. 4. Job No. Direct Materials Direct Labor 50 $10,400 $5,200 51 40,560 26,000 52 31,200 20,800 5. Assigned indirect materials of $17,680 and indirect labor of $20,800