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Instructions Collegiate Publishing Inc began printing operations on March 1. Jobs 301 and 302 wore 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 $7.000 of indsect materials and 511 200 of indirect labor were used during the month. The cost sheets for the four job entering production during the month are as follows in summary form Job 301 Job 302 Direct manals $10,200 Direct materials $21.000 Direct labor 8.000 Director 15.400 Factory overhead 5.080 Factory overhead 11.704 Total 524 280 TOLA 540 104 Job 303 Job 304 Direct materials $23.000- Direct materias $14200 Director 18.000 Orector 12200 Factory ovet Factory over Required: Journalize the Mar 31 summary entries to record each of the following operations for March (one entry for each operation). Refer to the chart of accounts for the exact wording or the account titles CNOW journals do not use lines for spaces or journal explanations. Every ine on a journal page is used for debitor credit entries Do not add explanations or skip a line between journal entries CNOWJournals will automatically indenta credit entry when a credit amount is entered 3. Direct and indirect materials used 0 Orect and indirect labor used c Factory overhead appled to all four jobs a single overhead rates used based on direct labor cost d. Completion of Jobs 301 and 302 CHART OF ACCOUNTS Collegiate Publishing Inc. General Ledger ASSETS REVENUE 110 Cash 410 Sales 121 Accounts Receivable 610 Interest Revenue 125 Notes Receivable 126 Interest Receivable EXPENSES 131 Materials 510 Cost of Goods Sold 132 Work in Process 520 Wages Expense 531 Selling Expenses 133 Factory Overhead 134 Finished Goods 532 Insurance Expense 141 Supplies 142 Prepaid Insurance 533 Utilities Expense 534 Office Supplies Expense 540 Administrative Expenses 560 Depreciation Expense-Factory 143 Prepaid Expenses 181 Land 191 Factory 590 Miscellaneous Expense 192 Accumulated Depreciation-Factory 710 Interest Expense LIABILITIES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 236 Interest Payable 241 Lease Payable 251 Wages Payable 252 Consultant Fees Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 Income Summary nal Journalize the Mar 31 summary entries to record each of the following operations for March (one entry for each operation) Refer to the chart of accounts for the exact wording of the account titles CNOW Journals do not use lines for spaces or Journal explanations Every Mne on a journal page is used for debit or credit entries Do not add explanations or skip are between journal entries CNOWjournals will automatically indenta Credit entry when a credit amount is entered 8 Direct and indirect materials used b Direct and direct laborused Factory overhead applied to all four jobs a single overhead rate is used based on direct labor cos! of Completion of Jobs 30 and 302 JOURNAL ACCOU DATE DESCRIPTION POST REF DEBIT CREDIT ASSETS Mar 31 Work in Process 68,400.00 Mar, 31 Factory Overhead 17,000.00 75,400.00 Work in Process 10

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