Entries for factory cost and jobs completed.
help me solve this please.
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 stie in process at the end of the month, and all applicable costs except tactory 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 lor the lour jobs entering production during the month are as follows, in summary form: Required: Joumalize the Mar. 31 summary entries to record each of the following operations for March (one entry for each operation). Fefer to the chart of accounts for the exact wording of the account titles. CNOW journais do nof 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 botweon joumal entries. CNOW journals will aulomafically indont a crodit entry when a credit amount is entered. a. Direct and indirect materials used. b. Direct and indirect labor used. c. Factory overhead appled to all four jobs (a single overhead rate is used based on direct labor cost. d. Completion of Jobs 301 and 302 . Chart of Accounts CHART OF ACCOUNTS Collegiate Publishing lne. General Ledger ASSETS 110 Cash 121 Accounts Recelvable 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 REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 520 Wages Expense 531-Seling Expenses 532 Insurance Expense 533 Usiifies Expense 534 Ofice Supplies Expense 540 Administrative Expenses 560 Depreciation Expense-Factory 590 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Aocounts 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 Joumalize 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. CNOWjoumals do not use lines for spaces or joumal explanations. Every line on a joumal page is used for debit or credit entries. Do not add explanations or slip a line between joumal entries. CNOW joumals will automatically indent a credit enty 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 . Joumal
