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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, $666,880. b. Materials requisitioned, $560,180, of which $72,820 was for general factory use. c. Factory labor used, $686,890, of which $130,510 was indirect. d. Other costs incurred on account for factory overhead, $160,050; selling expenses, $246,750; and administrative expenses, $146,710. e. Prepaid expenses expired for factory overhead were $30,680; for selling expenses, $26,010; and for administrative expenses, $18,670. f. Depreciation of factory equipment was $30,680; of office equipment, $45,350; and of office building, $89,360. g. Factory overhead costs applied to jobs, $380,120. h. Jobs completed, $880,280. i. Cost of goods sold, $853,610. 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, $666,880. Entry a. Description Debit Credit Materials requisitioned, $560,180, of which $72,820 was for general factory use. b. Entry b. Description Debit Credit C. Factory labor used, $686,890, of which $130,510 was indirect. Entry Description Debit Credit C. d. Other costs incurred on account for factory overhead, $160,050; selling expenses, $246,750; and administrative expenses, $146,710. Entry Description Credit Debit e. Prepaid expenses expired for factory overhead were $30,680; for selling expenses, $26,010; and for administrative expenses, $18,670. Entry Description Debit Credit e. f. Depreciation of factory equipment was $30,680; of office equipment, $45,350; and of office building, $89,360. Entry f. Description Debit Credit g. Factory overhead costs applied to jobs, $380,120. Entry g. h. Jobs completed, $880,280. Entry h. i. Cost of goods sold, $853,610. Entry i. Description Debit Credit Description Debit Credit Description Debit Credit
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