Assign Job 76 to Cold Regrigeration for the purchase of a refrigeration system. THe start date will be January 16th. The completion date will be no later than Febraury 28th. The estimated direct amterial is $9,175.00. The estimated indirect matieral is $1,860.00. The estmiated direct labor is $15,600.00. The contract amount is $45,800.00. A deposit of $10,000.00 was provided by cold Refrigeration in signing the contract. THje depsoit is unearned revenue. HAlf of the contract will be billed upon 50% completion with the deposit applied against that billing with the remaining amount due immediately. A quarter of the contract will be billed upon 75% completion of the contract with the amount due immediately. The remaining amount of the contract is to be billed when the job is 100% complete and is payable within 30 days of billing.

The company uses the job order cost system and has a 150% selling markup of estimated job costs.

Apply from direct materials requisition $4,600.00 of direct materials. Apply from indirect materials requsition $950.00 of indirect materials. Apply $8,000.00 (from time cards) of direct labor and factory overhead to job 76, completing 50% of the job. Factory overhead is based on 25% of direct labor cost. Transfer the partially completed job from Direct Material and Indirect Material to WIP. WHen making the journal entry for applying idrect labor, debit WIP for the gorss pay and credit FWT paybalbe and FICA tax payable for the approvpriate amounts with the net pay going to Salaries Payable. Set up the accounts receivable and bill Cold Regrigeration for 50% of the conrtact on account applying the initial $10,000.00 depsoit against the billing.

FWT is 15% and FICA is 7.65%

Please show all journal entries from start to finish in regards to this job.