A company utilizes a job order cost accounting system. On MArch 1, the Raw Materials inventory account had a balance of 12,200. In addition, there were jobs in process totaling 105,300 completed jobs 412,000. MArch, company purchased 175,000 raw materials employed 154,500 of materials into production of which 4,500 was for general factory use.

Factory labor totaled 241,300 paid with cash.

Factory labor totaled 41,300 managers and staff.

37,000 for factory equitment depreciation

6,000 prepaid insuance

761,000 factory expenses

Factory overhead rate of 80% jobs totaling $487,300

Account name Debit Credit

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