Lot Company a job order cest system and applies overhead te prodaction ouube besis of direct labor corts O ameary 1,2020, Job 50 was the oely job in proces. The cestsincured priox to lmary l an this job were as fellows direct muntesials $0,000, direct labor $12,000, and manufactouring overhead 316,000. As of lmuary 1, Job 49 had been cempleted at a cost of $90,000 and was part of finished goods inventory. There was a $15,000 balmore in the Rrw MEaterials Imvrentory Accoet Duwring the monh of Jamary. Lot Conpany began prodaction on Jobs S1 and 52, and completed Je additional events accurred during the mmouth 0were also sold on account during the month for $122,000 d $158,000, respectively. The folowing 1 Purchased additional raw materials of $90,000 on account 2 Incurred factory labor costs of $70,000. Of this amount $16,000 related to ensplayer payrell taqes 3. Incured mamfacturing overbead costs as follows indirect materials $17,000, indirect labar $20,000, depreciation expense on equipment $12,000, and various other mamufacturing overbead costs on account $16,000 Assigned direct materials and direct labo to jobs as follews Job No. 50 51 Direct Direct Labor $10,000 39,000 30,000 $5,000 25,000 20,000 Predetermined overhead rate 120% I Your answer is partially correct. Try again Open job cost sheets for Jobs 50, 51, and 52 Enter the Tanuary 1 balances on the job cost sheet for J pen job cost sheets for Jobs 50, 51, and 2.Eterthe January 1 balances on the job cost sbeet for Job 50. Post all costs to the job cost sheets as necessary Job No. 51 Date Direct Materials Direct Labor fanufacturing Overhead Cost of completed job Dizect iabcz Toal cost