During the month of January, Blossom 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 $151,280 and $195,920, respectively. The following additional events occurred during the month: 1. Purchased additional raw materials of $111,600 on account. 2. Incurred factory labor costs of $86,800. 3. Incurred manufacturing overhead costs as follows: depreciation expense on equipment $14,880; and various other manufacturing overhead costs on account $19,840. 4. Assigned direct materials and direct labor to jobs as follows. 5. Assigned indirect materials of $21,080 and indirect labor of $24,800. Calculate the predetermined overhead rate for 2022, assuming Blofsom Company estimates total manufacturing overhead costs of $1,041,600, direct labor costs of $868,000, and direct labor hours of 24,800 for the year: Predetermined overhead rate \% 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, (Ust alf debit entries before credit entrfes. Credit occount titles are automatically indented when amount is entered. Do not indent manually.) Prepare the journal entries to record the assignment of (1) raw materiak, (2) factory labor, and (3) manufacturing overhead costs to production. In assigning manufacturing overhead costs, use the overhead rate calculated in (a). (Uist aff debit entries before creftt entries. Credit occount titles are automotically indented when amount is entered. Do not indent manualiyJ) Cost of completed job Direct materials $ Direct labor Manufacturing overhead Total cost Job No. 51 Date Direct Materials Direct Labor Manufacturing Overhead Jan. $ $ $ $ $ Cost of completed job Direct materials. $ Direct labor Manufacturing overhead Total cost $ Job No. 52 Prepare the journal entry to record the completion of any job(s) during the month. (List all debit entries before credit ent account t'tles are automatically indented when amount is entered. Do not indent manually.) Prepare the journal entries to record the sale of any job(s) during the month. (List all debit entriles before credit entrles. Credit ac titles are automatically indented when amount is entered. Do not indent monually.) What is the balance in the Finished Goods Inventory account at the end of the month? (Hint: Use a T-account for Finished Goods Inventory.) What does this balance consist of? Finished Goods Inventory eTextbook and Media List of Accounts What is the amount of over-or underapplied overhead? Manufacturing Overhead