Entries for Factory Costs and Jobs Completed

Old School Publishing Inc. began printing operations on January 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, $1,540 of indirect materials and $18,640 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	$15,940			Direct materials	$7,450
Direct labor	6,100			Direct labor	3,200
Factory overhead	3,355			Factory overhead	1,760
Total	$25,395			Total	$12,410
Job 303				Job 304
Direct materials	$23,150			Direct materials	$4,590
Direct labor	6,800			Direct labor	900
Factory overhead				Factory overhead

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

a. Direct and indirect materials used. For a compound transaction, if an amount box does not require an entry, leave it blank.

b. Direct and indirect labor used. For a compound transaction, if an amount box does not require an entry, leave it blank.

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.

a. Direct and indirect materials used. For a compound transaction, if an amount box does not require an entry, leave it blank. b. Direct and indirect labor used. For a compound transaction, if an amount box does not require an entry, leave it blank. 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