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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, $757,260. b. Materials requisitioned, $636,100, of which $82,690 was for general factory use. c. Factory labor used, $779,980, of which $148,200 was indirect. d. Other costs incurred on account for factory overhead, $181,740; selling expenses, $280,190; and administrative expenses, $166,600. e. Prepaid expenses expired for factory overhead were $34,830; for selling expenses, $29,530; and for administrative expenses, $21,200. f. Depreciation of factory equipment was $34,830; of office equipment, $51,490; and of office building, $101,470. g. Factory overhead costs applied to jobs, $431,640. h. Jobs completed, $999,580. i. Cost of goods sold, $969,290. 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, $757,260. Entry Description Debit Credit a. b. Materials requisitioned, $636,100, of which $82,690 was for general factory use. Entry Description Debit Credit b. MI C. Factory labor used, $779,980, of which $148,200 was indirect. Entry Description Debit Credit d. Other costs incurred on account for factory overhead, $181,740; selling expenses, $280,190; and administrative expenses, $166,600. Entry Description Debit Credit d. III d. Other costs incurred on account for factory overhead, $181,740; selling expenses, $280,190; and administrative expenses, $166,600. Entry Description Debit Credit e. Prepaid expenses expired for factory overhead were $34,830; for selling expenses, $29,530; and for administrative expenses, $21,200. Entry Description Debit Credit le f. Depreciation of factory equipment was $34,830; of office equipment, $51,490; and of office building, $101,470. Entry Description Debit Credit g. Factory overhead costs applied to jobs, $431,640. Entry Description Debit Credit h. Jobs completed, $999,580. Entry Description Debit Credit i. Cost of goods sold, $969,290. Entry Description Debit Credit
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