(a)Materials purchased on account$176,000(b)Prepaid expenses incurred on account12,200(c)Materials requisitioned:For production orders153,700For general factory use2,700(d)Factory labor used:On production orders141,300For general factory purposes12,000(e)Depreciation on factory equipment37,000(f)Expiration of prepaid expenses, chargeable to factory6,100(g)Factory overhead costs incurred on account76,000(h)Factory overhead applied, based on machine hours105,300(i)Jobs finished415,300(j)Jobs shipped to customers: Cost412,000Selling price (assume all sold on account)638,000

Instruction (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 (1) 6,100 Expiration of prepaid expenses, chargeable to factory Factory overhead costs incurred on account (g) 76,000 (h) Factory overhead applied, based on machine hours 105,300 (i) Jobs finished 415,300 0) Jobs shipped to customers: Cost 412,000 Selling price (assume all sold on account) 638,000 Required: Present 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 the exact wording of the account titles. CNOW journals do not use lines for spaces or journal explanations. Every line on a journal page is used for debit or credit entries. Do not add explanations or skip a line between journal entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. Chart of Accounts CHART OF ACCOUNTS General Ledger ASSETS REVENUE 110 Cash 410 Sales 121 Accounts Receivable 610 Interest Revenue 131 Materials 133 Work in Process EXPENSES 135 Factory Overhead 510 Cost of Goods Sold 137 Finished Goods 520 Wages Expense 141 Supplies 531 Insurance Expense 142 Prepaid Expenses 532 Utilities Expense 181 Land 533 Office Supplies Expense 190 Factory Equipment 560 Depreciation Expense 191 Accumulated Depreciation-Factory Equipment 590 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 221 Utilities Payable 251 Wages Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 Income Summary Presentenines to record the operations related to production for a company using a job order cost system on December 31. Refer to the chart of accounts for the exact wording of the accountsitis. CNOW joumais do not use lines for spaces or journal explanations. Every Nne on a journal page is used for debit or credit entries. Do not add explanations or skip a line between journal entries. CNOW joumals will automatically inderit a credit entry when a credit amount is entered PAGE 1 JOURNAL DATE DESCRIPTION POST. REF DEBIT CREDIT 3 & 9 10 11 12 15 14 15 16 17 18 19 20 21 22 23 24