The following account appears in the ledger after only part of the postings have been completed for July, the first month of the current fiscal year: 
Factory overhead is applied to jobs at the rate of 60% of direct labor cost. The actual factory overhead incurred for July was $75,000. Jobs completed during the month totaled $301,200.
(a) Prepare the journal entries to record
(1) the application of factory overhead to production during July
(2) the jobs completed during July.
(b) What is the balance of the factory overhead account on July 31?
(c) Was factory overhead overapplied or underapplied on July 31?
(d) Determine the balance of Work in Process on July 31.
Definitions:
School Achievement
The measure of a student's academic progress and performance in an educational setting.
Academic Bottom Half
Refers to students who perform below the median in academic achievement in a given population.
Special/Remedial Education
Tailored educational programs designed to meet the needs of learners who require extra support to achieve academic success.
Gender Schemas
Cognitive frameworks that organize information related to gender, influencing how individuals perceive and interact with others based on gendered expectations.
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