Question
GIA Co. uses a job order cost system. The following data summarize the operations related to production for May: Materials purchased on account, $813,010. Materials
GIA Co. uses a job order cost system. The following data summarize the operations related to production for May: Materials purchased on account, $813,010. Materials requisitioned, $682,930, of which $88,780 was for general factory use. Factory labor used, $837,400, of which $159,110 was indirect. Other costs incurred on account for factory overhead, $195,120; selling expenses, $300,810; and administrative expenses, $178,860. Prepaid expenses expired for factory overhead were $37,400; for selling expenses, $31,710; and for administrative expenses, $22,760. Depreciation of office building was $108,940; of office equipment, $55,280; and of factory equipment, $37,400. Factory overhead costs applied to jobs, $463,420. Jobs completed, $1,073,170. Cost of goods sold, $1,040,650. Required: Journalize the entries to record the summarized operations. For a compound transaction, if an amount box does not require an entry, leave it blank.
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