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QUESTION BELOW:

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 % Prepare the journal entries to record the purchase of raw materials, the factory labour costs incurred, and the manufacturing overhead costs incurred during the month of January (List all debit entries before credit entries. Credit account titles are automatical indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. Raw Materials Inventory 108000 Accounts Payable 108000 2. Factory Labour 76000 Employer Payroll Taxes Payable 76000 3. Manufacturing Overhead 36100 Accounts Payable 22000 Accumulated Depreciation-Equipment 14100 5. Manufacturing Overhead 35100 Raw Materials Inventory 17000 Factory Labour 18100 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, eg. 1,245.) Job Cost Sheets Job No. 50 Direct Materials Direct Labour Manufacturing Overhead Date Beg $ 31,000 $ 15,300 $ 20,400 Jan. 12300 7400 14878 $ 43300 $ 22700 $ 35278 Job No. 51 Date Direct Materials Direct Labour Manufacturing Overhead Jan. $ 42100 $ 28200 $ 56699 S 42100 $ 28200 $ 56699 Job No.52 Date Direct Materials Direct Labour Manufacturing Overhead Jan 35000 $ 22000 $ 44233 $ $ 35000 $ 22000 $ 44233 Total the job cost sheets for anyjobis completed during the month. Job Cost Sheets Job No. 50 Direct Materials Direct Labour Manufacturing Overhead Date $ 31,000 S 15,300 $ 20,400 Jan. 12,300 7,400 14.879 $ 43,300 S 22,700 $35.279 Cost of completedjob Direct materials S 43300 Direct labour 22700 Manufacturing overhead 35278 Total cost 101278 Job No. 51 Date Direct Materials Direct Labour Manufacturing Overhead Jan. $ 42,100 $ 29,200 $ 56,702 $42.100 $ 29,200 $56,702 Cost of completedjob Direct materials 42100 Direct labour 29200 Manufacturing overhead 56699 Total cost 126999 Your answer is correct. Prepare the journal entry to record the completion of any jobs) during the month. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit Finished Goods Inventory 228.277 Work In Process Inventory 228277 e Textbook and Media List of Accounts Attempts: 1 of 3 used (f) Your answer is correct. Prepare the journal entries to record the sale of any jobs) during the month. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually Account Titles and Explanation Debit Credit Cost of Good Sold 22-1978 Finished Gooda inventory 221978 (To record cos goods sold of Jobs 49 and 50) Accounts Receivable 391000 Sales Revenue 391000 (To record sale of Jobs 49 and 50) Calculate the balance in the Finished Goods Inventory account at the end of the month. (Hint: Use a T-account for Finished Goods Inventory.) Finished Goods Inventory $ $