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During the first quarter, Francum Company incurs the following direct labor costs: January $45,200, February $57,500,...

During the first quarter, Francum Company incurs the following direct labor costs: January $45,200, February $57,500, and March $66,500. For each month, prepare the entry to assign overhead to production using a predetermined rate of 73% of direct labor cost. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

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Answer #1
Date General Journal Debit Credit
January Work in Process Inventory($45,200 × 73%) $32,996
Manufacturing Overhead $32,996
February Work in Process Inventory($57,500 × 73%) $41,975
Manufacturing Overhead $41,975
March Work in Process Inventory($66,500 × 73%) $48,545
Manufacturing Overhead $48,545
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