Entries for Costs in a Job Order Cost System

Royal Technology Company uses a job order cost system. The following data summarize the operations related to production for March:

1. Materials purchased on account, $770,000
2. Materials requisitioned, $680,000, of which $75,800 was for general factory use
3. Factory labor used, $756,000, of which $182,000 was indirect
4. Other costs incurred on account for factory overhead, $245,000; selling expenses, $171,500; and administrative expenses, $110,600
5. Prepaid expenses expired for factory overhead, $24,500; for selling expenses, $28,420; and for administrative expenses, $16,660
6. Depreciation of factory equipment was $49,500; of office equipment, $61,800; and of office building, $14,900
7. Factory overhead costs applied to jobs, $568,500
8. Jobs completed, $1,500,000
9. Cost of goods sold, $1,375,000

Required:

Journalize the entries to record the summarized operations. For a compound transaction, if an amount box does not require an entry, leave it blank.

a. Materials purchased on account, $770,000.

Entry	Description	Debit	Credit
a.		fill in the blank 2
			fill in the blank 4

b. Materials requisitioned, $680,000, of which $75,800 was for general factory use.

Entry	Description	Debit	Credit
b.		fill in the blank 6	fill in the blank 7
		fill in the blank 9	fill in the blank 10
		fill in the blank 12	fill in the blank 13

c. Factory labor used, $756,000, of which $182,000 was indirect.

Entry	Description	Debit	Credit
c.		fill in the blank 15	fill in the blank 16
		fill in the blank 18	fill in the blank 19
		fill in the blank 21	fill in the blank 22

d. Other costs incurred on account for factory overhead, $245,000; selling expenses, $171,500; and administrative expenses, $110,600.

Entry	Description	Debit	Credit
d.		fill in the blank 24	fill in the blank 25
		fill in the blank 27	fill in the blank 28
		fill in the blank 30	fill in the blank 31
		fill in the blank 33	fill in the blank 34

e. Prepaid expenses expired for factory overhead, $24,500; for selling expenses, $28,420; and for administrative expenses, $16,660.

Entry	Description	Debit	Credit
e.		fill in the blank 36	fill in the blank 37
		fill in the blank 39	fill in the blank 40
		fill in the blank 42	fill in the blank 43
		fill in the blank 45	fill in the blank 46

f. Depreciation of factory equipment was $49,500; of office equipment, $61,800; and of office building, $14,900.

Entry	Description	Debit	Credit
f.		fill in the blank 48	fill in the blank 49
		fill in the blank 51	fill in the blank 52
		fill in the blank 54	fill in the blank 55
		fill in the blank 57	fill in the blank 58

g. Factory overhead costs applied to jobs, $568,500.

Entry	Description	Debit	Credit
g.		fill in the blank 60
			fill in the blank 62

h. Jobs completed, $1,500,000.

Entry	Description	Debit	Credit
h.		fill in the blank 64
			fill in the blank 66

i. Cost of goods sold, $1,375,000.

Entry	Description	Debit	Credit
i.		fill in the blank 68
			fill in the blank 70