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the period. OBJ. 2 EX7-12 Entry for jobs completed; cost of unfinished jobs following account appears in the ledger prior to recognizing the jobs completed

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the period. OBJ. 2 EX7-12 Entry for jobs completed; cost of unfinished jobs following account appears in the ledger prior to recognizing the jobs completed in August: ,200 Balance, August 1 Direct materials Direct labor Factory overhead Work in Process 5 60,000 325,000 462,000 210,000 Jobs finished during August are summarized as follows: Job 210 $197,800 Job 224 $160,000 Job 216240,000 Job 230 364,000 a. Journalize the entry to record the jobs completed b. Determine the cost of the unfinished jobs at August 31. Entries for factory costs and jobs completed oBJ.2 7-13 School Publishing Inc. began printing c operations on January 1. Jobs 301 and 302 pplicable to them were recorded on the 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, $8,000 of indirect 750 were completed during the month, and all costs a related cost sheets. J materials and $12,400 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 Direct materials Direct labor Factory overhead Total 510,000 8,000 Direct labor 6000 Factory overhead 20,000 17,000 12.750 549,750 $24,000 Total Job 303 Job 304 Direct materials Direct labor Factory overhead $24,000 18,000 Direct materials Direct labor Factory overhead $14,000 Journalize the summary entry to record each of the following operations for Jan summarny entry to record each of the foloawing operations for (one entry for each operation): 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

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