The production data of Jackson Company for 2012 are as follows: On January 1, 2012, Jackson Company's work in process inventory account had a balance of $65,000. . During 2012, materials requisitioned for use in production amounted to $70,000, of which $66,000 represented direct materials. Factory wages for the period were $209,000, of which $186,400 were for direct labor. Manufacturing overhead is allocated on the basis of 60% of direct labor cost. Actual overhead was $116,440. Jobs costing $353,240 were completed during 2012. Requirements: Journalize the usage of materials in the production. Journalize the labor costs incurred. How much Manufacturing Overhead was allocated to production? Journalize the allocation of overhead. Journalize the completion of job. Use a T-account to determine the amount of underallocated or overallocated manufacturing overhead. Prepare the journal entry to close the balance of the manufacturing overhead account