During the first quarter, Francum Company incurs the following direct labor COSE! JY 1.400, FDJ, For each month, prepare the entry to assign overhead to production using a predetermined rate of 70% of direct labor cost. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Brief Exercise 16- During the first quarter, Francum Company incurs the following direct labor costs: January 147,400, February 559,700, and March $69.900 For each month, prepare the entry to assign overhead to production using a predetermined rate of 70% of direct labor cost. (Credit account titles are automatically indented when amount entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit