Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Entries for Costs in Job Order Costing Royal Technology Company uses job order costing. The following data summarize the operations related to production for a.

image text in transcribed
image text in transcribed
image text in transcribed
Entries for Costs in Job Order Costing Royal Technology Company uses job order costing. The following data summarize the operations related to production for a. Materials purchased on account, $544,890. b. Materials requisitioned, $457,700, of which $59,500 was for general factory use. c. Factory labor used, $561,230, of which $106,630 was indirect. d. Other costs incurred on account for factory overhead, $130,770; selling expenses, $201,610; and administrative exper e. Prepald expenses expired for factory overhead were $25,060; for selling expenses, $21,250; and for administrative ex f. Depreciation of factory equipment was $25,060; of office equipment, $37,050; and of office bullding, $73,010. g. Factory overhead costs applied to jobs, $310,580. h. Jobs completed, $719,240. 1. Cost of goods sold, $697,450. 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, $544,880. b. Materials requisitioned, $457,700, of which $59,500 was for general factory use. C. Factory labor used, $561,230, of which $106,630 was indirect. 9. Factory overhead costs applied to jobs, 3310,580 . h. Jobs completed, $719,240

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions