Exercise II-Job Order Costing (20 Points) The following account appears in the ledger after only part of completed for Jely, the first month of the current fiscal year The following account appears in the ledger after only part of the postings have been completed for July, the first month of the current fiscal year Work in Process July 1 Balance 60,200 147,000 Direct materials Direct labor 120,000 Factory overhead isapplied to jobs at the rate of 60% of direct labor cost totaled $3 overhead incurred for July was $75,000. during Jobs completed (a) Prepare the journal entries to record (1) the application of factory overhea production during July and (2) the jobs completed during July. (b) What is the balance of the factory overhead account on July 31? (c) Was factory overhead overapplied or underapplied on July 31? (d) Determine the balance of Work in Process on July 31