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, $4,500 of indirect materials and $8,200 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 301 Job 302 $12,500 Direct materials $18,750 Direct materials Direct labor Factory overhead Direct labor 42,200 31,000 7,750 Factory overhead 10,550 Total $51,250 Total $71,500 Job 303 Job 304 Direct materials Direct materials $9,940 16,500 $14,310 17,100 Direct labor Direct labor Factory overhead Factory overhead Journalize the summary entry to record each of the following operations for March (one entry for each operation): a. Direct and indirect materials used. If an amount box does not require an entry, leave it blank. Work in Process Factory Overhead Materials 1 0 C ov 4,500 o b. Direct and indirect labor used. If an amount box does not require an e eave it blank Work in proces Factory Overhead V 3.200 av Wages Payable b. Record direct labor costs in the Work In Process account and indirect labor costs in the Factory Overhead account. G overhead rate is used based on direct labor costs. If an amount box does not require an actory overhead applied to Your job entry, leave it blank. Work in Process w Factory Overvead www. www m be C. Apply factory overhead based on direct lab entry, leave it blan Completion of Jobs 301 302. If an amount box does not require Feed Goods Work Pro Previous Next >