Entries for Costs in Job Order Costing

Royal Technology Company uses job order costing. The following data summarize the operations related to

production for March:

a$.$ Materials purchased on account, $$497,670.$

b$.$ Materials requisitioned, $$418,040,$ of which $$54,350$ was for general factory use.

c$.$ Factory labor used, $$512,600,$ of which $$97,390$ was indirect.

d$.$ Other costs incurred on account for factory overhead, $$119,440$; selling expenses, $$184,140$; and

administrative expenses, $$109,490.$

e$.$ Prepaid expenses expired for factory overhead were $$22,890$; for selling expenses, $$19,410$; and for

administrative expenses, $$13,930.$

f$.$ Depreciation of factory equipment was $$22,890$; of office equipment, $$33,840$; and office building,

$$66,690.$

g$.$ Factory overhead costs applied to jobs, $$283,670.$

h$.$ Jobs completed, $$656,920.$

i$.$ Cost of goods sold, $$637,020.$

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, $$497,670.$

Entry

Description

Debit

Credit

a$.$

b$.$ Materials requisitioned, $$418,040,$ of which $$54,350$ was for general factory use.

c$.$ Factory labor used, $$512,600,$ of which $$97,390$ was indirect.

d$.$ Other costs incurred on account for factory overhead, $$119,440$; selling expenses, $$184,140$; and

administrative expenses, $$109,490.$

Entry

Description

Debit

d$.$

h$.$ Jobs completed, $$656,920.$

Entry

Description

Debit

Credit

h$.$

i$.$ Cost of goods sold, $$637,020.$

Entry

Description

Debit

Credit

i$.$

i$.$