1. Business
  2. Accounting
  3. old school publishing inc began printing operations on january 1...

Question: old school publishing inc began printing operations on january 1...

Question details

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 costs sheets. Jobs 303 and 394 are still in process at the end if 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, $7,000 of indirect materials and $11,2000 of indirect labor were used during the month. The cost s

Calculator eBook Entries for factory costs and jobs completed Journal instructions Chart of Accoun Instructions Job 302 Job 301 Direct materials $10.200 Direct materials $21,000 Direct labor8,000Direct labor 15,400 Factory overhead 6,080 Factory overhead 11,704 Total 524 280 Total$48 104 Job 303 Direct materials $23,000 Direct materials $14,200 Direct labor Factory overheadFactory overhead Job 304 18,000 Direct labor 12,200 Required Journalize the Jan. 31 summary entries to record each of the following of Accounts for exact wording of account titles. a. Direct and indirect materials used b. Direct and indirect labor used c. Factory overhead applied to all four jobs (a single overhead rate is d. Completion of Jobs 301 and 302 Check My Wark

heets for the four jobs entering production during the month are as follows, in summary form.

Journalize the Jan. 31 summary entries to record each of the following operations for January (one entry for each operation).

a. Direct and indirect materials used
b. Direct and indirect labor used
c. Factory overhead applied to all four jobs (a single overhead rate is used based of direct labor cost).
d. Completion of Jobs 301 and 302.

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution