sts 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, $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 materials $10,000 Direct materials $20,000 Direct labor ৪,000 Direct labor 17,000 Factory overhead 6,000 Factory overhead 12,750 Total $24,000 Total $49,750 Job 304 Job 303 $14,000 $24,000 Direct materials Direct materials 12,000 18,000 Direct labor Direct labor 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. Work in Process

Radford Products adds materials at the beginning of the process in Department A. The following information on physical units for Department A for the month of January is available. Units started in January 892,000 Units completed in January 916,000 Work in process, January 1 (25% complete with respect to conversion) 97,000 Work in process, January 31 (40% complete with respect to conversion) 73,000. Compute the equivalent units for materials costs and for conversion costs using the FIFO method.

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…