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, $8,400 of indirect materials and $13,700 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 301 Job 302 Direct materials $10,100 Direct materials $19,000 Direct labor 8,500 Direct labor 16,200 Factory overhead 5,950 Factory overhead 11,340 Total $24,550 Total $46,540 Job 303 Job 304 Direct materials $23,700 Direct materials $12,700 Direct labor 16,300 Direct labor 11,800 Factory overhead - Factory overhead Required:Required: 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. CNOWjournals 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. CNOWjournals will automatically indent a credit entry when a credit amount is entered. 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). . Completion of Jobs 301 and 302. Journal 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. CNOWjournals will automatically indent a credit entry when a credit amount is entered. 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.PAGE 10 JOURNAL Score: 80/125 ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY Mar. 31 Work in Process 132.00 Materials 131.00 + 3 Mar. 31 Work in Process 132.00 4 Wages Payable 251.00 5 Mar. 31 Work in Process 132.00 + + 6 Factory Overhead 133.00 Mar. 31 Work in Process 132.00 Work in Process 132.00 + Mar. 31 Finished Goods 134.00 10 Points: 15.36 / 24