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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 LaborYour answer is correct Calculate he predetermined overhead rate or 2017 essutning Lott Company estimates utal manufacturing overhead co s uf $840,000 direct labor costs of $700,000, and direct labor hours of 20,000 for the year Round dnswer to Lhe n drest เ hoe er en e 254 Predatermined overhead rate2Prepare the journal entries to record the assignment of direct materials, direct labor, and manufacturing overhead costs to production. In assigning manufacturing overhead costs, use the overhead rate calculated in (a) when amount is entered. Do not indent manually.) No. Account Titles and Explanation (1) Work in Process Inventory Credit 189000 79000

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