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Pharoah Company purchases $52,200 of direct raw materials and it incurs $62,200 of direct factory labor costs. Supporting records show that (a) the Assembly Department

Pharoah Company purchases $52,200 of direct raw materials and it incurs $62,200 of direct factory labor costs. Supporting records show that (a) the Assembly Department used $31,900 of direct raw materials and $44,200 of direct factory labor, and (b) the Finishing Department used the remainder. Manufacturing overhead is assigned to departments on the basis of 160% of labor costs. Record the assignment of overhead to the Assembly and Finishing Departments using the following format. Assume the balance in Manufacturing Overhead was $107,520 prior to assignment. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Balance Assigning Overhead Manufacturing Costs Raw Materials Inventory Factory Labor SA $ Manufacturing Overhead A A $ Assembly Work in Process Finishing A

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