Pharoah Manufacturing uses a job-order cost system and applies overhead to production on the basis of direct labour costs. On Question 3 of 3 1.93/72 1 January 1, 2022, Job No. 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $30,600, direct labour $15,000, and manufacturing overhead $20,600. As at January 1, Job No. 49 had been completed at a cost of $120,200 and was part of finished goods inventory. There was a $25,400 balance in the Raw Materials Inventory account on Prepare the journal entries to record the assignment of raw materials, factory labour, and manufacturing overhead costs to January 1. production In assigning manufacturing overhead cunts, use the overhead rate calculated in part tal. Rist all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. De net indent manuily. Round answers to D During the month of January, Pharoah Manufacturing began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 decimal places. es. 1.245) and 50 were sold on account during the month for $152,000 and $198,500, respectively. The following additional events occurred during the month: Account Titles and Explanation Debit 1. Pharoah purchased additional raw materials of $110,000 on account. 2. It incurred factory labour costs of $75,900. 3. It incurred manufacturing overhead costs as follows: depreciation on equipment $14,100, and various other manufacturing Clo record direct materials assigned overhead costs on account $22,200. to job so, 51 and $2) 4. It assigned direct materials and direct labour to jobs as follows: Direct Direct Job No. Materials Labour (To-record direct labour assitried to jobs 50, 53 and $2) 50 $12,700 $7,100 51 42,600 28.100 52 35,500 22,300 To record manufacturing overhead Hesigned to jobs 50, 51 and 52) 5. It assigned indirect materials of $17,400 and indirect labour of $18,100