In addition to the materials class=”hljs-keyword”>and labor charged directly to the jobs, $8,400 of indirect materials and $13,700 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
Question
In addition to the materials class=”hljs-keyword”>and labor charged directly to the jobs, $8,400 of indirect materials and $13,700 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 Direct materials $10,100 Direct labor $8,500 Factory overhead $5,950 Total $24,550
Job 302Direct materials $19,000 Direct labor $16,200Factory overhead $11,340Total$46,540
Job 303 Direct materials $23,700 Direct labor $16,300 Factory overhead ?
Job 304Direct materials $12,700Direct labor $11,800Factory overhead ?Required:Journalize summary entries to record each of the following operations for January (one entry for each operation). c. Factory overhead applied to all four jobs (a single overhead rate is used based on direct labor cost).d. Completion of Jobs 301 and 302.
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