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Carla Vista Manufacturing uses a job-order cost system and applies overhead to production on the basis of direct labour costs. On 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 $ 31,000, direct labour $ 15,300, and manufacturing overhead $ 20,400. As at January 1, Job No. 49 had been completed at a cost of $ 120,700 and was part of finished goods inventory. There was a $ 25,800 balance in the Raw Materials Inventory account on January 1. During the month of January, Carla Vista Manufacturing 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 $ 152,700 and $ 198,300, respectively. The following additional events occurred during the month: 1. Carla Vista purchased additional raw materials of $ 108,000 on account. 2. It incurred factory labour costs of $ 76,000. 3. It incurred manufacturing overhead costs as follows: depreciation on equipment $ 14,100, and various other manufacturing overhead costs on account $ 22,000. 4. It assigned direct materials and direct labour to jobs as follows: Direct Materials Direct Labour Job No. 50 $ 12,300 $ 7,400 51 42,100 28,200 52 35,000 22,000 5. It assigned indirect materials of $ 17,000 and indirect labour of $ 18,100. Your answer is correct Calculate the predetermined overhead rate for 2022, assuming Carla Vista Manufacturing estimates total manufacturing overhead costs of $ 1.510.000, direct labour costs of $ 751.000, and direct labour hours of 21.000 for the year. (Round answer to 2 decimal places, e.g. 21.11.) Overhead rate 201.06 % Enter the January 1 balances on the job cost sheet for Job No. 50. Job Cost Sheets Job No. 50 Direct Materials Direct Labour Manufacturing Overhead Date Beg. $ 31000 $ 15300 $ 20400 Prepare the journal entries to record the assignment of raw materials, factory labour, and manufacturing overhead costs to production. In assigning manufacturing overhead costs, use the overhead rate calculated in part (a). (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to o decimal places, e.g. 1,245.) Account Titles and Explanation Debit Credit Work in Process Inventory 89400 Raw Materials Inventory 89400 (To record direct materials assigned to jobs 50, 51 and 52) Work in Process Inventory 57600 Factory Labour 57600 (To record direct labour assigned to jobs 50, 51 and 52) Work in Process Inventory 115776 Manufacturing Overhead 115776 (To record manufacturing overhead assigned to jobs 50, 51 and 52) Post all costs to the job cost sheets as necessary. (Round answers to decimal places, e.g. 1,245.) Job Cost Sheets Job No. 50 Date Direct Materials Direct Labour Manufacturing Overhead Beg $ 31,000 $ 15,300 $ 20,400 Jan. $ $ $ Job No. 51 Date Direct Materials Direct Labour Manufacturing Overhead Jan. $ $ $ $ S $ Job No. 52 Date Direct Materials Direct Labour Manufacturing Overhead Jan. $ $ $ $ $ $
