ch. 15 1.2 b & d2 retry

Lott Company uses a job order cont system and apples everhe ad to production on the basis of direct bbor costs. On January 1,2020 . Job 50 was the onty job in precess. The costs incurred prior to January 1 on this job were as follows direct materials $24,600, direct tabor $14,760 and manitacturing owerhesd $19,680. As of January 1 . Job 49 had been completed at a cost of $120,700 and was part df kintihed goods ifventory. There was a $18.450 balance in the Raw Materials lmentary account. During the monthof Janazey, Lott Company becan production on 106b51 and 52 , and completed Jobs 50 and 51. Jobs 49 and 50 wrere alioveld pe aceount during the month for $150,060 and $194,340, respectively. The following additional events occurred during the month 1. Purchased additional raw materials of $110,700 on account. 2. Incurred factocy bbor costs of $86,100,0 this amount $19,680 related to employer payroll taxei 3. Incurred manufacturins owetheas costs as follows indrect materials $20.910, indirect ubor $24600; deprecistion axpence on equpinent $14760, and varices ofher manuf acturing everhead costs an account $19,680 4. Asimed d rect materiah and direct tabor to jobs as folons: Open lab cest theets for Jobr 50,51 and 52 . Enter the Junuary 1 balances on the fob cost shect for jos 50 . Dogt ali cosus to the job cort sheets ab neciessary