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Entries for Factory Costs and Jobs Completed Collegiate Publishing Inc. began printing operations on March 1. Jobs 301 and 302 were completed during the month,

Entries for Factory Costs and Jobs Completed

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, $680 of indirect materials and $8,280 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:

Line Item Description Amount
Direct materials $7,080
Direct labor 2,700
Factory overhead 1,485
Total $11,265

Line Item Description Amount
Direct materials $3,310
Direct labor 1,400
Factory overhead 770
Total $5,480

Line Item Description Amount
Direct materials $9,920
Direct labor 3,000
Factory overhead

Line Item Description Amount
Direct materials $2,040
Direct labor 400
Factory overhead

Journalize the summary entry to record each of the following operations for March (one entry for each operation):

Question Content Area

a. Direct and indirect materials used. If an amount box does not require an entry, leave it blank.

blank Account Debit Credit
blank CashFactory ExpensesFinished GoodsMaterialsWork in Process - Select - - Select -
Accounts PayableCashFactory OverheadFinished GoodsMaterials - Select - - Select -
Accounts PayableCashFactory OverheadMaterialsWork in Process - Select - - Select -

Question Content Area

b. Direct and indirect labor used. If an amount box does not require an entry, leave it blank.

blank Account Debit Credit
blank Accounts PayableFinished GoodsMaterialsWages PayableWork in Process - Select - - Select -
Accounts PayableCashFactory OverheadMaterialsWages Payable - Select - - Select -
Accounts PayableFactory OverheadMaterialsWages PayableWork in Process - Select - - Select -

Question Content Area

c. Factory overhead applied to all four jobs (a single overhead rate is used based on direct labor cost). If an amount box does not require an entry, leave it blank.

blank Account Debit Credit
blank Accounts PayableCashFactory OverheadMaterialsWork in Process - Select - - Select -
Accounts PayableCashFactory OverheadFinished GoodsWork in Process - Select - - Select -

Question Content Area

d. Completion of Jobs 301 and 302. If an amount box does not require an entry, leave it blank.

blank Account Debit Credit
blank CashFactory OverheadFinished GoodsMaterialsWork in Process - Select - - Select -
Accounts PayableFactory OverheadFinished GoodsMaterialsWork in Process - Select - - Select -

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