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Journalize the transactions on excel T Accounts Supreme Technology Company uses a job order cost system. The following data summarize the operations related to production
Journalize the transactions on excel T Accounts Supreme Technology Company uses a job order cost system. The following data summarize the operations related to production for March: a. Materials purchased on account, $60,000. b. Materials requisitioned, $32,000, of which $9,000 was for general factory use. c. Factory labor used, $40,000, of which $18,000 was indirect. di Other costs incurred on account for factory overhead, $12.500; selling expenses, $6,000; and administrative expenses, $194,570. e. Prepaid expenses expired for factory overhead were $14,000; for selling expenses, $14,000; and for administrative expenses, $26,000 1. Depreciation of factory equipment was $25,000, of office equipment, $19,000; and of office building, $18,000. 9. Factory overhead costs applied to jobs, $39,000 h. Jobs completed $40,000. 1. Cost of goods sold, $35,000 Balances of Inventory accounts as of March Materials - $21,300 Woricin-Process - $25,200 Finished Goods - $26,100 Factory Overhead - $18,300 Instructions: A) Journalize the transactions above (excel attached) B) Report the ending balances of all inventory accounts
Journalize the transactions on excel T Accounts
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