Eagle Co. manufactures bentwood chairs and tables. Wood for both products is steam-bent in the same process, but different types of wood are used for each product. Thus, materials cost is identified separately for each product. One production cycle uses 20 board feet. Labor cost is identified to the process as a whole, as is overhead cost. Data for the month of July follow: Line Item Description Chairs Tables Direct material cost per board foot $3.60 $4.20 Number of parts formed per production cycle (20 board feet) 10 8 Actual operating hours in July 120 380 Parts produced during July 4,000 9,000 Budgeted annual conversion cost: Labor $150,000 Utilities 125,000 Depreciation 65,000 Other overhead 50,000 Total $390,000 Budgeted annual operating hours for steam-bending 5,200 In your computations, round cost per unit amounts to two decimal places. If required, round final answers to the nearest dollar. Question Content Area a. Compute July's predetermined rate for the steam-bending process. fill in the blank 1 of 1$ per hour b. Compute July's direct material costs for chairs and tables. Chairs fill in the blank 1 of 2$ Tables fill in the blank 2 of 2$ c. Compute conversion costs to be applied to chairs and tables in July. Chairs fill in the blank 1 of 2$ Tables fill in the blank 2 of 2$ Question Content Area d. Journalize the following entries: 1. Assignment of direct materials to chairs and tables. If an amount box does not require an entry, leave it blank. blank Account Debit Credit blank - Select - - Select - - Select - - Select - - Select - - Select - Question Content Area 2. Application of conversion costs to chairs and tables. If an amount box does not require an entry, leave it blank. blank Account Debit Credit blank - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - Question Content Area 3. The transfer of completed chairs and tables to the Finishing Department. All of July's production was completed in July. If an amount box does not require an entry, leave it blank. blank Account Debit Credit blank - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select -