Watson Manufacturing Company employs a job order cost accounting system and keeps perpetual inventory records. The following transactions occurred in the first month of operations: 1. Direct materials requisitioned during the month: Job 101 $20,000 Job 102 16,000 Job 103 24,000 $60,000 2 . Direct labor incurred and charged to jobs during the month was: Job 101 $32,000 Job 102 28,000 Job 103 20,000 $80,000 3. Manufacturing overhead was applied to jobs worked on using a predetermined overhead rate based on 75% of direct labor costs. 4 . Actual manufacturing overhead costs incurred and paid during the month amounted to $66,000. 5 . Job 101 consisting of 1,000 units and Job 103 consisting of 200 units were completed during the month.V Your answer is correct. Prepare journal entries to record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. Work in Process Inventory 60000 Raw Materials Inventory 60000 2. Work in Process Inventory 80000 Factory Labor 80000 3. Work in Process Inventory 60000 Manufacturing Overhead 60000 4 Manufacturing Overhead 66000 Cash 66000 5. Finished Goods Inventory 135000 Work in Process Inventory 135000V Your answer is correct. How much manufacturing overhead was applied to Job 103 during the month? Manufacturing overhead $ 15000 eTextbook and Media List of Accounts Attempts: 1 of 5 used (b2) Your answer is correct. Compute the unit cost of Jobs 101 and 103. Job 101 Job 103 Unit cost $ 76 $ 295 eTextbook and Media List of Accounts Attempts: 1 of 5 used(b3) What is the balance in Work In Process Inventory at the end of the month? Work in process inventory e Textbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Submit