Exercise 20-11 (Part Level Submission) Shown below are the job cost related accounts for the law firm of Jack, Bob, and Will and their manufacturing equivalents: aw Firm Accounts Supplies Salaries and Wages Payable Operating Overhead Service Contracts in Process Cost of Completed Service Contracts Manufacturing Firm Account Raw Materials Factory Wages Payable Manufacturing Overhead Work in Process Cost of Goods Sold Cost data for the month of March follow 1. Purchased supplies on account $1,530 2. Issued supplies $2,400 (50% direct and 50% indirect) 3. Assigned labor costs based on time cards for the month which indicated labor costs of $51,600 (80% direct and 20% indirect). 4. Operating overhead costs incurred for cash totaled $31,700 5. Operating overhead is applied at a rate of 80% of direct attorney cost. 6. Work completed totaled $64,530 (a) Your answer is partially correct. Try again Journalize the transactions for March. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. Supplies 1,530 Accounts Payable 1,530 Service Contracts in Proce 1,200 Operating Overhead 1,200 Supplies 2,400 3. Work in Process Inventor 51,600 Manufacturing Overhea 10,320 Supplies 41,280 4 Operating Overhead 31,700 Cash 31,700 Service Contracts in Proce 25,360 Operating Overhead 25,360 6. Cost of Goods Sold 64,530 Finished Goods Invent 64,530