Instructions Royal Technology Company uses a job order cost system. The following data summarize the operations related to production for March: Mar 1 31 Materials purchased on account, $770,000 2 Materials requisitioned, $680,000, of which $75,800 was for general factory use. 31 Factory labor used, 5758,000, of which $162,000 was indirect Other costs incurred on account for factory overhead. 5245,000 seling expenses, 5171,500; and administrative expenses. $110,600. 31 Prepaid expenses expired for factory overhead were $24,500; for selling expenses. $28 420; and for administrative expenses, 518,660 Depreciation of factory equipment was 549,500, of office equipment, $61.800; and of office building, $14,900 Factory overhead costs applied to jobs. 5568,500. Jobs completed, $1,500,000 Cost of goods sold 51,375.000 31 31 31 31 Joumalize the entries to record the summarized operations. Refer to the Chart of Accounts for exact wording of accounts Instructions Journal Rd JOURNAL DERIT CREDIT DESCRIPTION POST REF DOTE 1 2 3 7 9 10 11 JOL 15 14 3 18 12 19 Instructions Journal RO 6 7 3 9 5 G 15 16 17 18 Job 10 20 21 24 Check My Work umal Chart of Accounts General Ledger 1 REVENUE ASSETS 7 410 Sales 110 Cash 3 810 Interest Revenue EXPENSES 510 Cost of Goods Sold 121 Accounts Receivable 125 Notes Receivable 126 Interest Receivable 131 Materials 132 Work in Process 133 Factory Overhead 134 Finished Goods 141 Supplies 142 Prepaid Insurance 143 Prepaid Expenses 181 Office Building 191 Office Equipment 192 Accumulated Depreciation-Buildings and Equipment 11 520 Wages Expense 531 Selling Expenses 532 Insurance Expense 533 Utilities Expense 534 Office Supplies Expense 540 Administrative Expenses 561 Depreciation Expense-Office Building 582 Depreciation Expense-Office Equipment 590 Miscellaneous Expense 710 Interest Expense 13 LIABILITIES 210 Accounts Payable 221 Utiles Payable 231 Nomes Payable 236 Interest Payable 241 Lease Payable 251 Wages Payable 252 Consultant Fees Payable Chart of Accounts 132 Factory Overhead 1 134 Finished Goods 141 Supplies 142 Prepaid Insurance 143 Prepaid Expenses 181 Office Building 191 Office Equipment 192 Accumulated Depreciation-Buildings and Equipment 531 Selling Expenses 532 Insurance Expense 533 Uties Expense 534 Office Supplies Expense 540 Administrative Expenses 581 Depreciation Expense-Office Building 562 Depreciation Expense-Office Equipment 590 Miscellaneous Expense 710 Interest Expense 11 LIABILITIES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 236 Interest Payable 241 Lease Payable 251 Wages Payable 252 Consultant Fees Payable 12 16 EQUITY 311 Common Stock 340 Retained Earnings 32 351 Dividends 390 Income Summary