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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
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: a. Materials purchased on account, $582,070. b. Materials requisitioned, $488,940, of which $63,560 was for general factory use. c. Factory labor used, $599,530, of which $113,910 was indirect. d. Other costs incurred on account for factory overhead, $139,700; selling expenses, $215,370; and administrative expenses, $128,060. e. Prepaid expenses expired for factory overhead were $26,780; for selling expenses, $22,700; and for administrative expenses, $16,300. f. Depreciation of factory equipment was $26,780; of office equipment, $39,580; and of office building, $78,000. g. Factory overhead costs applied to jobs, $331,780. h. Jobs completed, $768,330. i. Cost of goods sold, $745,050. Required: Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank. a. Materials purchased on account, $582,070. b. Materials requisitioned, $488,940, of which $63,560 was for general factory use. C. Factory labor used, $599,530, of which $113,910 was indirect. g. Factory overhead costs applied to jobs, $331,780. h. Jobs completed, $768,330. i. Cost of goods sold, $745,050
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