eBook instructions Chart of Accounts Journal Final Questions TIL Instructions Entrepreneurial Publishing Inc. began printing operations on January 1, Jobs 301 and 302 were completed churing 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 costo except factory overhead have been recorded on the related cost sheets. In addition to the materials and labor charged directly to the jobs. 57.000 of indirect materials and $11 200 of indirect labor were used during the month. The cost sheets for the four jobs antering production during the month are as follows, in summary form: Job 301 Direct materials 510 200 Director 3.000 Factory overhead 5,000 Total 524280 Job 302 Direct materials $21.000 Direct labor 15400 Check My Work Previous Next > OBOOK Job 302 Direct materials $21,000 Direct labor 15,400 Factory overhead 11,704 Total $48,104 Job 303 Direct materials $23.000 Direct labor 18,000 Factory overhead Job 304 Direct materiais $14.200 Dita 12.200 Factory covered Chuck My W ook Required: a Journalize the summary entry to record direct and indirect materials used. b. Journalize the summary entry to record direct and indirect labor used." c. Determine the factory overhead applied to Jobs 303 and 304 (a single overhead rate is used based on direct labor cost). d. Journalize the entry to record factory overhead applied to all four jobs." e. Journalize the entry to record the completion of Jobs 301 and 302. f. Determine the balance of the work in process account on January 31, "Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW Journals will automatically indent a credit entry when a credit amount is entered. Journal Shaded calls have feedback a. Journalize the Jan. 31 summary entry to record direct and indirect materials used. b. Journalize the Jan 31 summary entry to record direct and indirect labor used." d. Journalize the Jan 31 entry to record factory overhead applied to all four jobs." e. Journalize the Jan. 31 entry to record the completion of Jobs 301 and 302. *Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debitor credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered grading work? JOURNAL Score: 121/125 ACCOUNT DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LI Jan. 31 Work in Process 68,400.00 7,000.00 T 75,400.00 1 35,568.00 1 35,568.00 + Factory Overhead Materials Jan. 31 Work in Process Factory Overhead Jan. 31 Factory Overhead Work in Process Wages Payable Jan. 31 Finished Goods 1 11,200.00 53,600.00 1 64,800.00 t 72,384.00 72,384.00 Work in Process Previous Next > Check My Work e. When a job is completed, it is transferred out of work-in-process and add it to finished goods. Final Questions Shaded cells have feedback c. Determine the factory overhead applied to Jobs 303 and 304 (a single overhead rate is used based on direct labor cost). Job 303 Job 304 S $ Points: 0/2 1. Determine the balance of the work in process account on January 31. I V Points: 0/1 Previous Next > Check My Work All work saved. Save and Exit Submit Assignment for Grading
