Complete f).

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 $ 25,200, direct labor $ 15,120, and manufacturing overhead $ 20,160. As of January 1, Job 49 had been completed at a cost of $ 113,400 and was part of finished goods inventory. There was a $ 18,900 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 $ 153.720 and $ 199.080, respectively. The following additional events occurred during the month. 1. Purchased additional raw materials of $ 113,400 on account. 2. Incurred factory labor costs of $ 88,200. 3 Incurred manufacturing overhead costs as follows: depreciation expense on equipment $ 15,120; and various other manufacturing overhead costs on account $ 20,160. 4 Assigned direct materials and direct labor to jobs as follows. Job No. Direct Materials Direct Labor 50 $ 12,600 $ 6.300 51 49.140 31,500 52 37,800 25.200 5. Assigned indirect materials of $ 21,420 and indirect labor of $ 25,200. (a) Your answer is correct. Calculate the predetermined overhead rate for 2022, assuming Crane Company estimates total manufacturing overhead costs of $ 1,058,400, direct labor costs of $ 882,000, and direct labor hours of 25,200 for the year. Predetermined overhead rate 120 %Prepare the journal entries to record (1) the purchase of raw materials. (2) the factory labor costs incurred, and (3) the manufacturing overhead costs incurred during the month of January. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (1) Raw Materials Inventory 113,400.00 Accounts Payable 113,400.00 (2) Factory Labor $8 200.00 Service Salaries and Wages 88,200.00 (3) Manufacturing Overhead 35 280.00 Accumulated Depreciation-Equipment 15,120.00 Accounts Payable 20,160.00Prepare the journal entries to record the assignment of (1) raw materials, (2) factory labor, and (3) manufacturing overhead costs to production. In assigning manufacturing overhead costs, use the overhead rate calculated in (e). (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (1) Work In Process Inventory 99,540.00 Manufacturing Overhead 21,420.00 Raw Materials Inventory 120,960.00 (2) Work In Process Inventory 63,000.00 Manufacturing Overhead 25 200.00 Factory Labor 88,200.00 (3) Work In Process Inventory 75,600.00 Manufacturing Overhead 75,600.00Open job cost sheets for Jobs 50, 51, and 52. Enter the January 1 balances on the job cost sheet for Job 50. Post all costs to the job cost sheets as necessary. lob No. 50 Date Direct Materials Direct Labor Manufacturing Overhead Beg $ 25,200.00 15,120.00 20.160.00 Jan 12.600.00 6,300.00 7.560.00 37 800.00 21,420.00 S 27,720.00 Cost of completed job Direct materials $ 37,800.00 Direct labor 21,420.00 Manufacturing 27.720.00 overhead Total cost 86.940.00 Job No. 51 Date Direct Materials Direct Labor Manufacturing Overhead Jan. 49.140.00 31,500.00 37,800.00 49.140.00 31,500.00 37,800.00 Cost of completed job Direct materials $ 49,140.00 Direct labor 31,500.00 Manufacturing 37,800.00 overhead Total cost 118,440.00 Job No. 52 Date Direct Materials Direct Labor Manufacturing Overhead Jan 87,800.00 $ 25,200.00 30,240.00(e) Your answer is correct. Prepare the journal entry to record the completion of any job(s) during the month. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Finished Goods Inventory 205,380.00 Work In Process Inventory 205,380.00 eTextbook and Media List of Accounts Attempts: 1 of 5 used (f) Prepare the journal entries to record the sale of any job(s) during the month. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (1) (To record sale of jobs) (2) (To record cost of jobs)