Entrepreneurial 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, $1,710 of indirect materials and $20,710 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 $17,710     Direct materials $8,280 Direct labor 6,800     Direct labor 3,500 Factory overhead 3,740     Factory overhead 1,925 Total $28,250     Total $13,705             Job 303     Job 304 Direct materials $23,270     Direct materials $5,100 Direct labor 7,500     Direct labor 1,000 Factory overhead —     Factory overhead — Journalize the summary entry to record each of the following operations for January (one entry for each operation): Question Content Area a.  Direct and indirect materials used. If an amount box does not require an entry, leave it blank. blank   Work in Process Work in Process     Factory Overhead Factory Overhead     Materials Materials   Question Content Area b.  Direct and indirect labor used. If an amount box does not require an entry, leave it blank. blank   Work in Process Work in Process     Factory Overhead Factory Overhead     Wages Payable Wages Payable   Question Content Area c.  Determine the factory overhead applied to Jobs 303 and 304 (a single overhead rate is used based on direct labor cost). Job 303 $fill in the blank a90431ff9021fff_1 Job 304 $fill in the blank a90431ff9021fff_2     Question Content Area d.  Factory overhead applied to all four jobs (a single overhead rate is used based on direct labor cost). If an amount box does not require an entry, leave it blank. blank   Work in Process Work in Process     Factory Overhead Factory Overhead     Question Content Area e.  Completion of Jobs 301 and 302. If an amount box does not require an entry, leave it blank. blank   Finished Goods Finished Goods     Work in Process Work in Process   Question Content Area f.  Determine the balance of the work in process account on January 31.

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 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, $1,880 of indirect materials and $22,780 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 Line Item Description Amount Direct materials $19,480 Direct labor 7,500 Factory overhead 4,125 Total $31,105 Job 302 Line Item Description Amount Direct materials $9,110 Direct labor 3,900 Factory overhead 2,145 Total $15,155 Job 303 Line Item Description Amount Direct materials $26,000 Direct labor 8,300 Factory overhead — Job 304…

Entries for Factory Costs and Jobs Completed 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, $1,540 of indirect materials and $18,640 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 $15,940 Direct materials $7,450 Direct labor 6,100 Direct labor 3,200 Factory overhead 3,355 Factory overhead 1,760 Total $25,395 Total $12,410 Job 303 Job 304 Direct materials $21,480 Direct materials $4,590 Direct labor 6,800 Direct labor 900 Factory overhead Factory overhead Journalize the summary entry to…

Custom Cabinetry has one job in process (Job 120) as of June 30; at that time, its job cost sheet reports direct materials of $8,700, direct labor of $3,600, and applied overhead of $2,880. Custom Cabinetry applies overhead at the rate of 80% of direct labor cost. During July, Job 120 is sold (on credit) for $24,500, Job 121 is started and completed, and Job 122 is started and still in process at the end of July. Custom Cabinetry incurs the following costs during July.    Job 120 Job 121 Job 122 Direct materials used $ 1,000 $ 6,100 $ 2,900 Direct labor used 3,800 4,000 3,900  1. Prepare journal entries for the following July transactions and events a through e.a. Direct materials used.b. Direct labor used.c. Overhead applied.d. Sale of Job 120.e. Cost of goods sold for Job 120. Hint: Job 120 has costs from June and July.2. Compute the July 31 balances of the Work in Process Inventory and the Finished Goods Inventory accounts. (There were no jobs in Finished Goods Inventory…