Business, 19.07.2021 17:10 piyonax

Collegiate Publishing Inc. began printing operations on March 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, $7,500 of indirect materials and $11,800 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
Direct materials $10,000
Direct labor 8,000
Factory overhead 6,000
Total $24,000

Job 302
Direct materials $20,000
Direct labor 17,000
Factory overhead 12,750
Total $49,750

Job 303
Direct materials $24,000
Direct labor 18,000
Factory overhead â
Job 304
Direct materials $14,000
Direct labor 12,000
Factory overhead â

Required:
Journalize the Jan. 31 summary entries

.

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Collegiate Publishing Inc. began printing operations on March 1. Jobs 301 and 302 were completed dur...

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