Royal Technology Company uses job order costing. The following data summarize the operations related to production...
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Royal Technology Company uses job order costing. The following data summarize the operations related to production for March: a. Materials purchased on account, $560,410. b. Materials requisitioned, $470,740, of which $61,200 was for general factory use. c. Factory labor used, $577,220, of which $109,670 was indirect. d. Other costs incurred on account for factory overhead, $134,500; selling expenses, $207,350; and administrative expenses, $123,290. e. Prepaid expenses expired for factory overhead were $25,780; for selling expenses, $21,860; and for administrative expenses, $15,690. f. Depreciation of factory equipment was $25,780; of office equipment, $38,110; and of office building, $75,090. g. Factory overhead costs applied to jobs, $319,430. h. Jobs completed, $739,740. i. Cost of goods sold, $717,320. Required: Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank. Royal Technology Company uses job order costing. The following data summarize the operations related to production for March: a. Materials purchased on account, $560,410. b. Materials requisitioned, $470,740, of which $61,200 was for general factory use. c. Factory labor used, $577,220, of which $109,670 was indirect. d. Other costs incurred on account for factory overhead, $134,500; selling expenses, $207,350; and administrative expenses, $123,290. e. Prepaid expenses expired for factory overhead were $25,780; for selling expenses, $21,860; and for administrative expenses, $15,690. f. Depreciation of factory equipment was $25,780; of office equipment, $38,110; and of office building, $75,090. g. Factory overhead costs applied to jobs, $319,430. h. Jobs completed, $739,740. i. Cost of goods sold, $717,320. Required: Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank.
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Related Book For
Financial and Managerial Accounting
ISBN: 978-1285078571
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
Posted Date:
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