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Prepare the journal entries to record the assignment of (1) direct materials, (2) direct labor, and (3) manufacturing overhead costs to production. In assigning manufacturing overhead costs, use the overhead rate calculated in (a). (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Prepare the journal entries to record (1) the purchase of raw materials, (2) the factory labor costs incurred, and (3) the manufacturing overhead costs incurred during the month of January. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Calculate the predetermined overhead rate for 2020 , assuming Lott Company estimates total manufacturing overhead costs of $856,800, direct labor costs of $714,000, and direct labor hours of 20,400 for the year. Predetermined overhead rate % eTextbook and Media Open job cost sheats for Jaba 50,51, and 52. Enter the January 1 balances on the job cost sheat for Job 50. Past all costs to the job cost sheats as necessary. Prepare the journal entry to record the completion of any job(s) during the month. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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