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Oriole Company uses a job order cost system and applies overhead to production on the...

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Accounting

Oriole Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2022, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $22,000, direct labor $13,200, and manufacturing overhead $17,600. As of January 1, Job 49 had been completed at a cost of $99,000 and was part of finished goods inventory. There was a $16,500 balance in the Raw Materials Inventory account on January 1. During the month of January, Oriole Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were sold on account during the month for $134,200 and $173,800, respectively. The following additional events occurred during the month.

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