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, $7,800 of indirect materials and $11,100 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 $10,700 Direct materials $18,400 Direct labor 7,200 Direct labor 16,400 Factory overhead 6,192 Factory overhead 14, 104 Total $24,092 Total $48,904 Job 303 Job 304 Direct materials $25,900 Direct materials $15,900 Direct labor 19,500 Direct labor 10, 100 Factory overhead Factory overheadJOURNAL ACCOUNTING FOUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 4 10