Remaining Time: 39 minutes, 49 seconds. Question Completion Status: QUESTION 1 The managers of Johnston's Custom Furniture use a job order cost system. The following data summarize the operations related to the first quarter's production activity 1. Materials purchased on account $404,000, and factory wages incurred $174,600 2. Materials requisitioned and factory labor used by jobs Job Number Materials Factory Labor h14 $ 70,480 $36,000 h16 85,840 44,000 h18 72 200 30,000 h20 78,540 50,000 General Factory use 8.940 14 600 Total $315,000 $174.600 3. Manufacturing overhead costs incurred on account 599,000 4. Depreciation on factory machinery $29,000 5. Depreciation on the company's office building was $28,600 6. Manufacturing overhead rate of 90% of direct labor costs 7. Jobs completed during the quarter h14h16, and h18 REQUIRED a. Prepare journal entries to record the operations summarized in #1 through #7 b. Prepare a schedule showing the individual cost elements and total cost for each job completed. Arial 3 (12) E-T G 13 TT TT Paragraph %D0Q T TO WTML CSS Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Remaining Time: 39 minutes, 49 seconds. Question Completion Status: QUESTION 1 The managers of Johnston's Custom Furniture use a job order cost system. The following data summarize the operations related to the first quarter's production activity 1. Materials purchased on account $404,000, and factory wages incurred $174,600 2. Materials requisitioned and factory labor used by jobs Job Number Materials Factory Labor h14 $ 70,480 $36,000 h16 85,840 44,000 h18 72 200 30,000 h20 78,540 50,000 General Factory use 8.940 14 600 Total $315,000 $174.600 3. Manufacturing overhead costs incurred on account 599,000 4. Depreciation on factory machinery $29,000 5. Depreciation on the company's office building was $28,600 6. Manufacturing overhead rate of 90% of direct labor costs 7. Jobs completed during the quarter h14h16, and h18 REQUIRED a. Prepare journal entries to record the operations summarized in #1 through #7 b. Prepare a schedule showing the individual cost elements and total cost for each job completed. Arial 3 (12) E-T G 13 TT TT Paragraph %D0Q T TO WTML CSS Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers