(a)	Materials purchased on account	$176,000
(b)	Prepaid expenses incurred on account	12,200
(c)	Materials requisitioned:
	For production orders	153,700
	For general factory use	2,700
(d)	Factory labor used:
	On production orders	141,300
	For general factory purposes	12,000
(e)	Depreciation on factory equipment	37,000
(f)	Expiration of prepaid expenses, chargeable to factory	6,100
(g)	Factory overhead costs incurred on account	76,000
(h)	Factory overhead applied, based on machine hours	105,300
(i)	Jobs finished	415,300
(j)	Jobs shipped to customers:
	Selling price (assume all sold on account)	638,000
	Cost of goods sold	412,000

	Required:
	Journalize entries to record the above summarized operations related to production for a company using a job order cost system. Refer to the Chart of Accounts for exact wording of account titles.

CHART OF ACCOUNTS

General Ledger

	ASSETS
110	Cash
121	Accounts Receivable
131	Materials
133	Work in Process
135	Factory Overhead
137	Finished Goods
141	Supplies
142	Prepaid Expenses
181	Land
190	Factory Equipment
191	Accumulated Depreciation

	LIABILITIES
210	Accounts Payable
221	Utilities Payable
251	Wages Payable

	EQUITY
311	Common Stock
340	Retained Earnings
351	Dividends
390	Income Summary

	REVENUE
410	Sales
610	Interest Revenue

	EXPENSES
510	Cost of Goods Sold
520	Wages Expense
531	Insurance Expense
532	Utilities Expense
533	Office Supplies Expense
560	Depreciation Expense
590	Miscellaneous Expense
710	Interest Expense

Journalize entries to record the summarized operations related to production for a company using a job order cost system on December 31. Refer to the Chart of Accounts for exact wording of account titles.

PAGE 1

JOURNAL

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24