Problem 20-1A ny uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2017, Job No. 50 was the only job in Lott process. The costs incurred prior to January 1 on this ob were as follows: direct materials 22,600, direct labor $13,560, and manufacturing overhead $18,080. As or January 1, Job No. 49 had been completed at a cost of $101,700 and was part of finished goods inventory. There was a $16,950 balance in the Raw Materials Inventory account During the month of January, Lott Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were atso sold on account during the month for $137,860 and $178,540, respectively. The following additional events occurred during the month. 1. Purchased additional raw materials of $101,700 on account 2. Incurred factory labor costs of $79,100. Of this amount $18,080 related to employer payroll taxes. 3. Incurred overhead costs as follows: indirect materials $19,210; Indirect labor $22,600; depreciation expense on equipment $13.560: and vancus other manufacturing overhead costs on account $18,080. Job No Labor $11,300 44,070 33,900 51 28,250 estimates total manufactuning overhead costs of $949,200, direct lader costs of $791,000, and Open job cost shets for Jobs so, 51, and 52. Enter the lanuary : balanes on te poo cssreet for 5oo No. Job No.50