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.

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

Entry	Description	Debit	Credit
b.

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

Entry	Description	Debit	Credit
c.

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.

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.

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

Entry	Description	Debit	Credit
f.

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

Entry	Description	Debit	Credit
g.

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

Entry	Description	Debit	Credit
h.

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

Entry	Description	Debit	Credit
i.