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Job Order Cost Accounting for a Service Company 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 (dient) 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 40% of media purchases. On August 1, the four advertising projects had the following accumulated costs: August 1 Balances Vault Bank $71,200 Take Off Airlines 21,400 Sleepy Tired Hotels 49,800 Tastee Beverages 30,600 Total $173,000 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 Labor. Media Purchases Vault Bank $50,000 $182,200 Take Off Airlines 22.300 150,300 Sleepy Tired Hotels 98,400 117,100 Tastee Beverages 112,000 87,400 Tarik 2000-200 Fake OIT AITITES 22,300 100,300 Sleepy Tired Hotels 98,400 117,100 Tastee Beverages 112,000 87,400 Total $282,700 $547,000 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. a. Journalize the summary entry to record the direct labor costs for the month. If an amount box does not require an entry, leave it blank. b. Journalize the summary entry to record the media purchases for the month. If an amount box does not require an entry, leave it blank. b. c. Journalize the summary entry to record the overhead applied for the month. If an amount box does not require an entry, leave it blank. d. Journalize the summary entry to record the completion of Vault Bank and Take Off Airlines for the month. If an amount box does not require an entry, leave it blank, Summary entry to record the direct labor costs for the month. If an amount box does not require an entry, leave it blank. b. Journalize the summary entry to record the media purchases for the month. If an amount box does not require an entry, leave it blank. b. c. Journalize the summary entry to record the overhead applied for the month. If an amount box does not require an entry, leave it blank. C. d. Journalize the summary entry to record the completion of Vault Bank and Take Off Airlines for the month. If an amount box does not require an entry, leave it blank. d. Next Entry for Factory Labor Costs The weekly time tickets indicate the following distribution of labor hours for three direct labor employees: Hours Job 301 Job 302 Process Improvement Tom Couro 19 14 5 David Clancy 10 18 16 4 Jose Cano 11 16 8 5 The direct labor rate earned per hour by the three employees is as follows: Tom Couro: $24 David Clancy 19 Jose Cano 22 The process improvement category includes training, quality improvement, and other indirect tasks. a. Journalize the entry to record the factory labor costs for the week. If an amount box does not require an entry, leave it blank. Work in Process 2.194 X Factory Overhead 270 X Wages Payable 2464 X Job 303 8