Old School Publishing Inc. began printing operations on January1.

Jobs 301 and

302 were completed during the month, and all costsapplicable to them were
recorded on the related cost sheets. Jobs303 and 304 are still in process at the
end of the month, and allapplicable costs except factory overhead have been
recorded on therelated cost sheets. In addition to the materials and labor
chargeddirectly to the jobs, $8,000 of indirect materials and $12,400 ofindirect
labor were used during the month. The cost sheets for thefour jobs entering
production during the month are as follows, insummary form:
Job 301
Direct materials $10,000
Direct labor 8,000
Factory overhead 6,000
Total $24,000

Job 302
Direct materials $20,000
Direct labor 17,000
Factory overhead 12,750
Total $49,750

Job 303
Direct materials $24,000
Direct labor 18,000
Factory overhead —

Job 304
Direct materials $14,000
Direct labor 12,000
Factory overhead —
Required:
Journalize the Jan. 31 summaryentries to record each of the following operations for January (oneentry for eac
A. Direct and indirectmaterials used.
B. Direct and indirect laborused.
C. Factory overhead applied toall four jobs (a single overhead rate is used based on direct laborcost).
D. Completion of Jobs 301 and302.
 Overhead rate = Overheads/Direct labor cost
Overhead rate = $ 8,000/$ 6,000 = 75 % of direct labor cost

A. Direct and indirectmaterials used.

Work in process-Job 301 $ 12,000
Direct materials $ 10,000
Factory overhead $ 2,000

Work in process-Job 302 $ 22,000

Direct materials $ 20,000
Factory overhead $ 2,000

Work in process-Job 303 $ 26,000

Direct materials $ 24,000
Factory overhead $ 2,000

Work in process-Job 304 $ 16,000

Direct materials $ 14,000
Factory overhead $ 2,000

B. Direct and indirect laborused.

Work in process-Job 301 $ 11,100
Direct labor $ 8,000
Factory overhead $ 3,100
ct laborcost).
Work in process-Job 302 $ 20,100
Direct labor $ 17,000
Factory overhead $ 3,100

Work in process-Job 303 $ 21,100

Direct labor $ 18,000
Factory overhead $ 3,100

Work in process-Job 304 $ 15,100

Direct labor $ 12,000
Factory overhead $ 3,100
C. Factory overhead applied toall four jobs (a single overhead rate is used based on direct laborcost).
Work in process-Job 301 $ 6,000
Factory overhead $ 6,000

Work in process-Job 302 $ 12,750

Factory overhead $ 12,750

Work in process-Job 303 $ 13,500

Factory overhead $ 13,500
(75 % * $ 18,000)

Work in process-Job 304 $ 9,000

Factory overhead $ 9,000
(75 % * $ 12,000)

D. Completion of Jobs 301 and302.

Finished goods $ 24,000
Work in process-Job 301 $ 24,000

Finished goods $ 49,750

Work in process-Job 302 $ 49,750
 0.75

($ 8,000/4 jobs)

($ 8,000/4 jobs)

($ 8,000/4 jobs)

($ 8,000/4 jobs)

($ 12,400/4 jobs)

($ 12,400/4 jobs)
0.75

($ 12,400/4 jobs)

($ 12,400/4 jobs)
on direct laborcost).