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, $2,390 of indirect materials and $28,990 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 ob 301 ob 302 Direct materials $24,790 Direct materials $11,590 Direct labor Factory overhead 5,225 Factory overhead 2,695 Total 4,900 9,500 Direct labor $39,515 Total $19,185 ob 303 ob 304 Direct materials $30,870 Direct materials $7,140 Direct labor Factory overhead Journalize the summary entry to record each of the following operations for January (one entry for each operation) 10,500 Diect labor 1,400 Factory overhead a. Direct and indirect materials used. For a compound transaction, if an amount box does not require an entry, leave it blank. Work in Process 74,390 Factory Overhead7 7,920 x Materials 82,JU x Feedback Check My Work 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. For a compound transaction, if an amount box does not require an entry, leave it blank. Work in Process 26,300 Wages Payable 34,220 Feedback Check My Work 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) Work in Process & Factory Overhead Feedback Check My Work c. Apply factory overhead based on direct labor costs. d. Completion of Jobs 301 and 302. Finished Goodsv Work in Process Feedback Check My Work d. Transfer the cost of completed jobs out of work-in-process and into finished goods. Feedback Check My Work Partially corect PreviouS Next Check My Work 2 more Check My Work uses remaining