Cullumber Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $20,600, direct labor $12,360, and manufacturing overhead $16,480. As of January 1, Job 49 had been completed at a cost of $92,700 and was part of finished goods inventory. There was a $15,450 balance in the Raw Materials Inventory account. During the month of January, Cullumber Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were also sold on account during the month for $125,660 and $162,740, respectively. The following additional events occurred during the month. 1. 2. 3. Purchased additional raw materials of $92,700 on account. Incurred factory labor costs of $72,100. Of this amount $16,480 related to employer payroll taxes. Incurred manufacturing overhead costs as follows: indirect materials $17,510; indirect labor $20,600; depreciation expense on equipment $12,360; and various other manufacturing overhead costs on account $16,480. Assigned direct materials and direct labor to jobs as follows. 4. Job No. Direct Materials $10,300 50 Direct Labor $5,150 25,750 20,600 51 40,170 30,900 52 (c) 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. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit (1) Raw Materials Inventory 92,700 Accounts Payable (2) Factory Labor 72.100 Employer Payroll Taxes Payable Factory Wages Payable (3) Manufacturing Overhead Raw Materials Inventory Factory Labor Depreciation Expense Accounts Payable