Question

Royal Technology Company uses a job order cost system. The following data summarize the operations related to production for March:
a. Materials purchased on account, $ 770,000.
b. Materials requisitioned, $ 680,000, of which $ 75,800 was for general factory use.
c. Factory labor used, $ 756,000, of which $ 182,000 was indirect.
d. Other costs incurred on account for factory overhead, $ 245,000; selling expenses, $ 171,500; and administrative expenses, $ 110,600.
e. Prepaid expenses expired for factory overhead were $ 24,500; for selling expenses, $ 28,420; and for administrative expenses, $ 16,660.
f. Depreciation of factory equipment was $ 49,500; of office equipment, $ 61,800; and of office building, $ 14,900.
g. Factory overhead costs applied to jobs, $ 568,500.
h. Jobs completed $ 1,500,000.
i. Cost of goods sold, $ 1,375,000.

Instruction
Journalize the entries to record the summarized operations.



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  • CreatedJune 27, 2014
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