Entries for Factory Costs and Jobs Completed Munch Printing Inc. began printing operations on August...
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Accounting
Entries for Factory Costs and Jobs Completed
Munch Printing Inc. began printing operations on August 1. Jobs 10 and 11 were completed during the month, and all costs applicable to them were recorded on the related cost sheets. Jobs 12 and 13 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, $860 of indirect materials and $10,360 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 10
Job 11
Direct materials
$8,860
Direct materials
$4,140
Direct labor
3,400
Direct labor
1,800
Factory overhead
1,870
Factory overhead
990
Total
$14,130
Total
$6,930
Job 12
Job 13
Direct materials
$11,900
Direct materials
$2,550
Direct labor
3,800
Direct labor
500
Factory overhead
Factory overhead
Journalize the summary entry to record each of the following operations for August (one entry for each operation):
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