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, $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
Direct materials	$12,500			Direct materials	$18,750
Direct labor	31,000			Direct labor	42,200
Factory overhead	7,750			Factory overhead	10,550
Total	$51,250			Total	$71,500
Job 303				Job 304
Direct materials	$9,940			Direct materials	$14,310
Direct labor	16,500			Direct labor	17,100
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	fill in the blank c000f1fa4ff006e_2	fill in the blank c000f1fa4ff006e_3
	Factory Overhead	fill in the blank c000f1fa4ff006e_5	fill in the blank c000f1fa4ff006e_6
	Materials	fill in the blank c000f1fa4ff006e_8	fill in the blank c000f1fa4ff006e_9

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a. Record direct materials costs in the Work in Process account, and indirect materials costs in the Factory Overhead account.

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

		fill in the blank 32e9de06bff7077_2	fill in the blank 32e9de06bff7077_3
		fill in the blank 32e9de06bff7077_5	fill in the blank 32e9de06bff7077_6
		fill in the blank 32e9de06bff7077_8	fill in the blank 32e9de06bff7077_9

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b. Record direct labor costs in the Work in Process account, and indirect labor costs in the Factory Overhead account.

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.

		fill in the blank 383ab8f8cfc3067_2	fill in the blank 383ab8f8cfc3067_3
		fill in the blank 383ab8f8cfc3067_5	fill in the blank 383ab8f8cfc3067_6

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c. Apply factory overhead based on direct labor costs.

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

		fill in the blank b86f5ffb4f94ff1_2	fill in the blank b86f5ffb4f94ff1_3
		fill in the blank b86f5ffb4f94ff1_5	fill in the blank b86f5ffb4f94ff1_6