Entries for Factory costs and Jobs Completed 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 203 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. $680 of indirect materials and $8,280 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
$7.080 Direct materials
$3,310
Direct labor
2.700 Direct labor
1,400
Factory overhead
1.465 Factory overhead
770
$11.255
$5.480
Total
Job 303
Job 304
Direct materials
58 880
Direct materials
52.040
Direct labor
3.000
Direct labor
400
Factory overhead
Factory overhead
Journaise the summary entry to record each of the following operations for March (one entry for each operation)
2. Direct and indirect materials used. If an amount box does not require an entry leave it blank.
Work in Process
X
650
Factory Overhead
Materials
х