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Please post journal entries for a-i. Royal Technology Company uses a job order cost system. The following data summarize the operations related to production for
Please post journal entries for a-i.
Royal Technology Company uses a job order cost system. The following data summarize the operations related to production for March: a. Materials purchased on account, $518,000. b. Materials requisitioned, $435,120, of which $56,570 was for general factory use. C. Factory labor used, $533,540, of which $101,370 was indirect. d. Other costs incurred on account for factory overhead, $124,320; selling expenses, $191,660; and administrative expenses, $113,960. e. Prepaid expenses expired for factory overhead were $23,830; for selling expenses, $20,200; and for administrative expenses, $14,500. f. Depreciation of factory equipment was $23,830; of office equipment, $35,220; and of office building, $69,410. g. Factory overhead costs applied to jobs, $295,260. h. Jobs completed, $683,760. i. Cost of goods sold, $663,040. Required: Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blankStep by Step Solution
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