The Fly Company provides advertising services for clients across the nation. The Fly Company is presently working on four projects, each for a different client. The Fly Company accumulates costs for each account $($client$)$ on the basis of both direct costs and allocated indirect costs. The direct costs include the charged time of professional personnel and media purchases $($air time and ad space$).$ Overhead is allocated to each project as a percentage of media purchases. The predetermined overhead rate is $65\%$ of media purchases.On August $1,$ the four advertising projects had the following accumulated costs:August $1$ BalancesVault Bank$$269,200$Take Off Airlines$76,700$Sleepy Tired Hotels$218,200$Tastee Beverages$124,000$Total$$688,100$During August, The Fly Company incurred the following direct labor and media purchase costs related to preparing advertising for each of the four accounts:Direct LaborMedia PurchasesVault Bank$$199,300$$$706,900$Take Off Airlines$76,200623,800$Sleepy Tired Hotels$366,100459,100$Tastee Beverages$422,000340,000$Total$$1,063,600$$$2,129,800$At the end of August, both the Vault Bank and Take Off Airlines campaigns were completed. The costs of completed campaigns are debited to the cost of services account.Required:Journalize the four summary entries on August $31$ to record each of the following for the month. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.a$.$ Direct labor costsb$.$ Media purchasesc. Overhead appliedd. Completion of Vault Bank and Take Off Airlines campaigns

Journalize the four summary entries on August $31$ to record each of the following for the month. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

a$.$ Direct labor costs

b$.$ Media purchases

c$.$ Overhead applied

d$.$ Completion of Vault Bank and Take Off Airlines campaigns

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