Instructions Chart of Accounts Journal Instructions Colegiate Publishing Inc began printing operations on March 1, Jobs 301 and 302 ware 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, 57.000 or indirect materials and $11.200 or 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 matenals $10.200 Direct materials $21,000 Drect labor 8.000 Direct labor 15.400 Factory overhead 5,080 Factory overhead 11704 Total $24 200 Total 548 104 Instructions Job 303 Job 304 Direct materials $23.000 Direct matenals 514 200 Direct labor 18.000 Direct labor 12,200 Factory overhead Factory overhead Required: Journaize the Mar or summary entries to record each or the following operation for March (one entry for euch beration Refer to the chart om accounts for me exact wording of the accountitlos CNOW Journals do not use Ines for spaces or journal explanations Every Ane on a journal page is woed for debitor credentes do not add explanations or skio a Ine between journal entries CNOW Journals will automatically indenta Credit entry when a credit amount is entered Factory overhead Factory overhead Required: Joumalize the Mar 31 summary entries to record each of the following operations for March (one entry for each operation). Refer to the chart or accounts for the exact wording of the account titles CNOW Journals do not use lines for spaces or journal explanations Every ine on a journal page is used for det or credit entries. Do not add explanations or skip a Ane berween journal entries CNOW Journals will automatically denta credit entry when a credit amount is entered a. Direct and indirect materials used b. Direct and direct labor used G Factory Overhead applied to all four jobs (a single overhead rates used based on direct labor cost) d. Completion of Jobs 301 and 302 CHART OF ACCOUNTS Collegiate Publishing Inc. General Ledger ASSETS REVENUE 110 Cash 410 Sales 121 Accounts Receivable 610 Interest Revenue 125 Notes Receivable 126 Interest Receivable EXPENSES 131 Materials 510 Cost of Goods Sold 132 Work in Process 520 Wages Expense 531 Selling Expenses 133. Factory Overhead 133 Factory Overhead 134 Finished Goods 141 Supplies 142 Prepaid insurance 143 Prepaid Expenses 531 Selling Expenses 532 Insurance Expense 533 Utilities Expense 534 Office Supplies Expense 540 Administrative Expenses 560 Depreciation Expense-Factory 590 Miscellaneous Expense 181 Land 191 Factory 192 Accumulated Depreciation Factory 710 Interest Expense LIABILITIES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 236 Interest Payable 241 Lease Payable 251 Wages Payable 252 Consultant Fees Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 Income Summary