Recording Factory Labor Costs A summary of the time tickets for January is as follows: Job No. Amount Job No. Amount 3467 3478 $9,802 $7,352 3,701 3470 3480 10,647 3471 3497 Indirect labor 3501 12,134 13,605 22,984 18,810 a. Determine the amounts of factory labor costs transferred to Work in Process and Factory Overhead for January. Factory labor costs transferred to Work in Process Factory labor costs transferred to Factory Overhead b. Tilustrate the effect on the accounts and financial statements of the factory labor costs transferred in (a). If no account or activity is affected, select "No effect" from the drop-down list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts Factory labor costs transferred to Factory Overhead b. Illustrate the effect on the accounts and financial statements of the factory labor costs transferred in (a). If no account or activity is affected, select "No effect from the drop-down list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts, Balance Sheet Statement of Cash Flows Assets Liabilities Stockholders Equity Work in process Factory overhead Wages payable No effect Statement of Cash Flows Income Statement No effect No effect O