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, $7,000 of indirect materials and $11,200 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 $10,200 Direct materials $21,000 Direct labor 8,000 Direct labor 15,400 Factory overhead (6,080 Factory overhead 11,704 Total $24,280 Total $48,104 Job 303 Job 304 Direct materials $23,000 Direct materials $14,200 Direct labor 18,000 Direct labor 12,200 Factory overhead - Factory overhead Required: Journalize the Jan. 31 summary entries to record each of the following operations for January (one entry for each operation). Refer to the Chart of Accounts for exact wording of account titles. a. Direct and indirect materials used. b. Direct and indirect labor used. 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. CHART OF ACCOUNTS 142 Prepaid Insurance 143 Prepaid Expenses Old School Publishing Inc. 181 Land General Ledger 191 Factory ASSETS REVENUE 192 Accumulated Depreciation-Factory 110 Cash 410 Sales LIABILITIES 121 Accounts Receivable 610 Interest Revenue 210 Accounts Payable 125 Notes Receivable 221 Utilities Payable 126 Interest Receivable 231 Notes Payable 131 Materials 236 Interest Payable 132 Work in Process 241 Lease Payable 133 Factory Overhead 134 Finished Goods 251 Wages Payable 141 Supplies 252 Consultant Fees Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 Income Summary DATE DESCRIPTION POST. REF. DEBIT CREDIT