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Question: lott com any i sr a nh ontercost sys enn...

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lott Com any i SR; A nh Ontercost sys enn and ap iles ถ Grhead to producton on the bask of dirart lahar ro ts. n 1anuary 1 2017 en Nn 5n was the only b ǐn pro se The cnsts incurred priar o נanuary 1 on rls ob ere as tolla s: direct materials sn nn direct lab t $12 nan and man tach ng avertead $16,000. s of anuary 1, ob No. 49 had been completed at a ost o 90,000 and was pert ef finished goods inentory. There nas $15,00 balanoe in the aw Materials Enventory account. During the month of Januar , Lott Company bepan production on Jcbs 5l snd ฐ2 and competed Jobs ฐ0 and 31 Jcbc 40 อ d SO erc also sold on account during the month for $122,000 and $158 000 rospcct vely. The follo 1 Purchased additional raw materials cr $90,000 on account. 2. Incured factory labor csts o $70,000. Or tis amcunt s15,000 related to employer payrell tazes. 4, Assigned ป ell materials dnd dired labu lu jobs as rulluns. ng tional events occurred during the month materials 517,000; İndiect labu expense se on equipment $12, Job No Direct Materials Direct LaborNo. Account Titles and Explanation Debit Credit (1) Raw Materials Inventory 90000 Accounts Payable 90000 (2) Factory Labor 70000 Cash /iD) (3) Manufacturing Overhead 65000 Raw Materials Inventory 17000 Factory Labor 20000 fixed assets 12000 Cash 16000

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