Oriole Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January $1,2025,$ Job $50$ was the only job in process. The costs incurred prior to January $1$ on this job were as follows: direct materials $$17,600,$ direct labor $$10,560,$ and manufacturing overhead $$14,080.$ As of January $1,$ Job $49$ had been completed at a cost of $$79,200$ and was part of finished goods inventory. There was a $$13,200$ balance in the Raw Materials Inventory account on January $1.$

During the month of January, Oriole 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 $$107,360$ and $$139,040,$ respectively. The following additional events occurred during the month.

$1.$  Purchased additional raw materials of $$79,200$ on account.

$2.$  Incurred factory labor costs of $$61,600.$

$3.$  Incurred manufacturing overhead costs as follows: depreciation expense on equipment $$10,560$; and various other manufacturing overhead costs on account $$14,080.$

$4.$  Assigned direct materials and direct labor to jobs as follows.

Job No$.$

Direct Materials

Direct Labor

$50$

$$8,800$

$$4,400$

$51$

$34,320$

$22,000$

$52$

$26,400$

$17,600$

$5.$  Assigned indirect materials of $$14,960$ and indirect labor of $$17,600.$

$($a$)$

Your answer is correct.

Calculate the predetermined overhead rate for $2025,$ assuming Oriole Company estimates total manufacturing overhead costs of $$739,200,$ direct labor costs of $$616,000,$ and direct labor hours of $17,600$ for the year.

Predetermined overhead rate enter the predetermined overhead rate in percentages

$120$

Correct answer $\%$

eTextbook and Media

List of Accounts

Attempts: $1$ of $3$ used

$($c$)$

Your Answer

Correct Answer

Your answer is partially correct.

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. $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.$)$

No$.$

Account Titles and Explanation

Debit

Credit

$(1)$

enter an account title

Raw Materials Inventory

Correct answer

enter a debit amount

$79,200$

Correct answer

enter a credit amount

Correct answer

enter an account title

Accounts Payable

Correct answer

enter a debit amount

Correct answer

enter a credit amount

$79,200$

Correct answer

$(2)$

enter an account title

Factory Labor

Correct answer

enter a debit amount

$61,600$

Correct answer

enter a credit amount

Correct answer

enter an account title

Employer Payroll Taxes Payable

Incorrect answer

enter a debit amount

Incorrect answer

enter a credit amount

$51,040$

Incorrect answer

$(3)$

enter an account title

Manufacturing Overhead

Correct answer

enter a debit amount

$55,000$

Incorrect answer

enter a credit amount

Incorrect answer

enter an account title

Accumulated Depreciation$-$Equipment

Correct answer

enter a debit amount

Correct answer

enter a credit amount

$10,560$

Correct answer

enter an account title

Accounts Payable

Correct answer

enter a debit amount

Correct answer

enter a credit amount

$14,080$

Correct answer

eTextbook and Media

List of Accounts

Attempts: $3$ of $3$ used

$($d$1)$

Your answer is partially correct.

Prepare the journal entries to record the assignment of $(1)$ raw materials, $(2)$ factory labor, and $(3)$ manufacturing overhead costs to production. In assigning manufacturing overhead costs, use the overhead rate calculated in $($a$).($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.$)$