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, $8,000 of indirect materials and $12,400 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 Direct materials Direct labor Factory overhead Total Job 302 $10,000 Direct materials $20,000 8,000 Direct labor 17,000 6,000 Factory overhead 12,750 $24,000 Total $49,750 Job 303 Job 304 Direct materials $24,000 Direct materials $14,000 Direct labor 18,000 Direct labor 12,000 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. Work in Process Factory Overhead Materials x 0 x 0 0 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. 0 Work in Process Factory Overhead. Wages Payable 0