Old school publishing inc. began 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 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 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 matenals
direct materials
$20,000
$10,000
8,000
6,000
direct labor
factory overhead
direct labor
17,000
12,750
factory overhead
-
total
$24,000
total
$49,750
job 303
job 304
direct matenals
$24,000 direct materials
$14,000
direct labor
18,000 direct labor
12,000
factory overhead
factory overhead
journalize the summary entry to record each of the following operations for january (one entry for each operation):
a. direct and indirect materials used. for a compound transaction, if an amount box does not require an entry, leave it blank.
i
work in process ✓
68,000
filled
llimi
factory overhead
141,750
el
heet
materials
i
ill
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a. record direct materials costs in the work in process account, and indirect materials costs in the factory overhead account.
b. direct and indirect labor used. for a compound transaction, if an amount box does not require an entry, leave it blank.
work in process
factory overhead
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