Refer to the information presented in PB2-1 for Coda Industries.
Information from PB2-1
(a) Purchased materials on account at a cost of $270,500.
(b) Requisitioned materials at a cost of $195,500, only $180,000 of which was traceable to specific jobs.
(c) Recorded factory labor of $267,000, 80 percent of which was direct.
(d) Incurred other costs:
Selling expenses ...... $ 65,300
Factory utilities ...... 68,300
Administrative expenses ... 92,500
Factory rent ....... 125,000
Factory depreciation .... 64,800
(e) Applied overhead during the month totaling $290,000.
(f) Completed jobs costing $607,250.
(g) Sold jobs costing $557,700.
(h) Recorded sales revenue of $850,000.
Prepare all of Coda’s necessary journal entries for the month of November.