Waterway Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January $1,2020,$ Job $50$ was the only job in process. The costs incurred prior to January $1$ on this job were as follows: direct materials $$22,400,$ direct labor $$13,440,$ and manufacturing overhead $$17,920.$ As of January $1,$ Job $49$ had been completed at a cost of $$100,800$ and was part of finished goods inventory. There was a $$16,800$ balance in the Raw Materials Inventory account.

During the month of January, Waterway Company began production on Jobs $51$ and $52,$ and completed Jobs $50$ and $51.$ Jobs $49$ and $50$ were also sold on account during the month for $$136,640$ and $$176,960,$ respectively. The following additional events occurred during the month.

Purchased additional raw materials of $$100,800$ on account.

Incurred factory labor costs of $$78,400.$ Of this amount $$17,920$ related to employer payroll taxes.

Incurred manufacturing overhead costs as follows: indirect materials $$19,040$; indirect labor $$22,400$; depreciation expense on equipment $$13,440$; and various other manufacturing overhead costs account $$17,920.$

Assigned direct materials and direct labor to jobs as follows.

$\backslash$table$[[$Job No$.,$Direct Materials,Direct Labor$],[50,$$$11,200,$$$5,600$