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Journalize the entries to record the summarized operations. Refer to the Chart of Accounts for exact wording of account titles. DiSalvio Co. uses a job
Journalize the entries to record the summarized operations. Refer to the Chart of Accounts for exact wording of account titles.
DiSalvio Co. uses a job order cost system. The following data summarize the operations related to production for May:
May 1 | Materials purchased on account, $634,000. |
May 2 | Materials requisitioned, $646,200, of which $74,500 was for general factory use. |
May 31 | Factory labor used, $660,200, of which $91,200 was indirect. |
May 31 | Other costs incurred on account for factory overhead, $147,500; selling expenses, $234,000; and administrative expenses, $146,400. |
May 31 | Prepaid expenses expired for factory overhead were $29,200; for selling expenses, $26,800; and for administrative expenses, $18,000. |
May 31 | Depreciation of office building was $84,600; of office equipment, $43,340; and of factory equipment, $32,000. |
May 31 | Factory overhead costs applied to jobs, $362,000. |
May 31 | Jobs completed, $1,002,000. |
May 31 | Cost of goods sold, $890,000. |
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