Collegiate Publishing Inc. began printing operations on March 1. Jobs 301 and 302 were completed during the month, and all costs applicable to them were recorded on the related cost sheets. Jobs 303 and 304 are still in process at the end of the month, and all applicable costs except factory overhead have been recorded on the related cost sheets. In addition to the materials and labor charged directly to the jobs, $7,900 of indirect materials and $13,200 of indirect labor were used during the month. The cost sheets for the four jobs entering production during the month are as follows, in summary form:

Job 301Job 302Direct materials$10,900Direct materials$18,300Direct labor8,900Direct labor17,700Factory overhead5,785Factory overhead11,505Total$25,585Total$47,505Job 303Job 304Direct materials$26,000Direct materials$13,700Direct labor16,000Direct labor12,300Factory overheadFactory overheadRequired:

Journalize the Mar. 31 summary entries to record each of the following operations for March (one entry for each operation). Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for spaces or journal explanations. Every line on a journal page is used for debit or credit entries. Do not add explanations or skip a line between journal entries.

.a.) Direct and indirect materials used .b). Direct and indirect labor used. c.) Factory overhead applied to all four jobs (a single overhead rate is used based on direct labor cost)

.d). Completion of Jobs 301 and 302.

REVENUE

410 Sales

610 Interest Revenue

EXPENSES

510 Cost of Goods Sold

520 Wages Expense

531 Selling Expenses

532 Insurance Expense

533 Utilities Expense

534 Office Supplies Expense

540 Administrative Expenses

560 Depreciation Expense-Factory

590 Miscellaneous Expense

710 Interest Expense

ASSETS

110 Cash

121 Accounts Receivable

125 Notes Receivable

126 Interest Receivable

131 Materials

132 Work in Process

133 Factory Overhead

134 Finished Goods

141 Supplies

142 Prepaid Insurance

143 Prepaid Expenses

181 Land

191 Factory

192 Accumulated Depreciation-Factory

LIABILITIES

210 Accounts Payable

221 Utilities Payable

231 Notes Payable

236 Interest Payable

241 Lease Payable

251 Wages Payable

252 Consultant Fees Payable

EQUITY

311 Common Stock

340 Retained Earnings

351 Dividends

390 Income Summary