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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, $833,440. b. Materials requisitioned, $700,090, of which $91,010 was for general factory use. c. Factory labor used, $858,440, of which $163,100 was indirect. d. Other costs incurred on account for factory overhead, $200,030; selling expenses, $308,370; and administrative expenses, $183,360. e. Prepaid expenses expired for factory overhead were $38,340; for selling expenses, $32,500; and for administrative expenses, $23,340. f. Depreciation of factory equipment was $38,340; of office equipment, $56,670; and of office building, $111,680. g. Factory overhead costs applied to jobs, $475,060. h. Jobs completed, $1,100,140. i. Cost of goods sold, $1,066,800. 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, $833,440. Entry Description Debit Credit a. b. Materials requisitioned, $700,090, of which $91,010 was for general factory use. Entry Description Debit Credit b. c. Factory labor used, $858,440, of which $163,100 was indirect. Entry Description Debit Credit C. d. Other costs incurred on account for factory overhead, $200,030; selling expenses, $308,370; and administrative expenses, $183,360. Entry Description Debit Credit d. e. Prepaid expenses expired for factory overhead were $38,340; for selling expenses, $32,500; and for administrative expenses, $23,340. Entry Description Debit Credit e. f. Depreciation of factory equipment was $38,340; of office equipment, $56,670; and of office building, $111,680. Entry Description Debit Credit f. g. Factory overhead costs applied to jobs, $475,060. Entry Description Debit Credit g. h. Jobs completed, $1,100,140. Entry Description Debit Credit h. i. Cost of goods sold, $1,066,800. Entry Description Debit Credit
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