Cullumber Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On Jaruary 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 $25,600, direct labor $15,360. and manufacturing overhead $20,480. As of January 1, Job 49 had been completed at a cost of $115,200 and was part of finished goods inventory. There was a $19,200 balance in the Raw Materials inventory account on January 1 During the month of January. Cullumber Compamy 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 $156,160 and $202,240, respectively. The following additional events oceurred during the month. 1. Purchased additional raw materials of $115,200 on account. 2. Incurred factory labor costs of $89,600 3. Incurred manutacturing overhead costs as follows: depreclation expense on equipment $15,360; and various other manufacturing overhead costs on account $20,480. 4. Assiened direct materials and direct labor to jobs as follows: Cullumber Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On Jaruary 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 $25,600, direct labor $15,360. and manufacturing overhead $20,480. As of January 1, Job 49 had been completed at a cost of $115,200 and was part of finished goods inventory. There was a $19,200 balance in the Raw Materials inventory account on January 1 During the month of January. Cullumber Compamy 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 $156,160 and $202,240, respectively. The following additional events oceurred during the month. 1. Purchased additional raw materials of $115,200 on account. 2. Incurred factory labor costs of $89,600 3. Incurred manutacturing overhead costs as follows: depreclation expense on equipment $15,360; and various other manufacturing overhead costs on account $20,480. 4. Assiened direct materials and direct labor to jobs as follows