Cullumber 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 $21,200, direct labor $12,720, and manufacturing overhead $16,960. As of January 1, Job 49 had been completed at a cost of $95,400 and was part of finished goods inventory. There was a $15,900 balance in the Raw Materials Inventory account on January 1. 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 sold on account during the month for $129,320 and $167,480, respectively. The following additional events occurred during the month. 1. 2. 3. Purchased additional raw materials of $95,400 on account. Incurred factory labor costs of $74,200. Incurred manufacturing overhead costs as follows: depreciation expense on equipment $12,720; and various other manufacturing overhead costs on account $16,960. Assigned direct materials and direct labor to jobs as follows. 4. Job No. Direct Materials Direct Labor 50 $10,600 $5,300 51 41,340 26,500 52 31,800 21,200 5 . Assigned indirect materials of $18,020 and indirect labor of $21,200. Question 2 of 5 3.85/20 III Direct labor Manufacturing overhead Total cost $ Job No. 51 Date Direct Materials Direct Labor Manufacturing Jan. 41340 $ 26500 $ Cost of completed job Direct materials $ Direct labor Manufacturing overhead Total cost $ Job No.52 Date Direct Materials Direct Labor Manufacturing Overhead Jan. $ 31800 21200 $ Direct Materials Direct Labor Manufacturing Overhead 21200 $ 41300 31000 12720 26500 21200 16960 35333 28267 job $ 31300 or 21200 uring 28267 81267 Job No. 51 Date Direct Materials Direct Labor Manufacturing Jan. 41340 $ 26500 $ SA Cost of completed job Direct materials Direct labor Manufacturing overhead luni Total cost $ Open 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. Job No. 50 Date Direct Materials Direct Labor Manufacturing Beg. $ 21200 $ 41300 $ Jan. 12720 26500 $ 16960 GA 35333 $ Cost of completed job Direct materials $ Direct labor Manufacturing overhead otal cost