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, $492,550.
2. Materials requisitioned, $413,740, of which $53,790 was for general factory use.
3. Factory labor used, $507,330, of which $96,390 was indirect.
4. Other costs incurred on account for factory overhead, $118,210; selling expenses, $182,240; and administrative expenses, $108,360.
5. Prepaid expenses expired for factory overhead were $22,660; for selling expenses, $19,210; and for administrative expenses, $13,790.
6. Depreciation of factory equipment was $22,660; of office equipment, $33,490; and of office building, $66,000.
7. Factory overhead costs applied to jobs, $280,750.
8. Jobs completed, $650,170.
9. Cost of goods sold, $630,460.

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, $492,550.

Entry	Description	Debit	Credit
a.

b. Materials requisitioned, $413,740, of which $53,790 was for general factory use.

Entry	Description	Debit	Credit
b.

c. Factory labor used, $507,330, of which $96,390 was indirect.

Entry	Description	Debit	Credit
c.

d. Other costs incurred on account for factory overhead, $118,210; selling expenses, $182,240; and administrative expenses, $108,360.

Entry	Description	Debit	Credit
d.

e. Prepaid expenses expired for factory overhead were $22,660; for selling expenses, $19,210; and for administrative expenses, $13,790.

Entry	Description	Debit	Credit
e.

f. Depreciation of factory equipment was $22,660; of office equipment, $33,490; and of office building, $66,000.

Entry	Description	Debit	Credit
f.

g. Factory overhead costs applied to jobs, $280,750.

Entry	Description	Debit	Credit
g.

h. Jobs completed, $650,170.

Entry	Description	Debit	Credit
h.

i. Cost of goods sold, $630,460.

Entry	Description	Debit	Credit
i.