Old school publishing incorporation begin 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 300 for is still in process at the end of the month, and all applicable cost except factory overhead have been recorded on the related cost sheets. In addition to the materials and labor charge directly to the jobs, $7900 of indirect materials and $13,200 of indirect labor when used during the month. The cost sheets for the four jobs entering production during the months are as follows, in summary form:

Job 301 Job 302 Direct materials $ 10,900 Direct materials $18,300 Direct labor 8,900 Direct labor 17,700 Factory overhead 5,785 Factory overhead 11,505 Total $25,585 Total $47,505 Job 303 Job 304 Direct materials $26,000 Direct materials $13,700 Direct labor 16,000 Direct labor 12,300 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 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 133 Factory Overhead 531 Selling Expenses 134 Finished Goods 532 Insurance Expense 141 Supplies 533 Utilities Expense 142 Prepaid Insurance 143 Prepaid Expenses 534 Office Supplies Expense 540 Administrative Expenses 560 Depreciation Expense-Factory 181 Land 191 Factory 590 Miscellaneous Expense 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 Journal 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 (e single overhead rate is used based on direct labor cost) d Completion of Jobs 301 and 302. PAGE 10 JOURNAL DATE DESCRIPTION POST REF DEBIT CREDIT 1 2 3 4 5 6 7 3 10