Question
Royal Technology Company uses a job order cost system. The following data summarize the operations related to production for March: Mar. 1 Materials purchased on
Royal Technology Company uses a job order cost system. The following data summarize the operations related to production for March:
Mar. | 1 | Materials purchased on account, $770,000. |
2 | Materials requisitioned, $680,000, of which $75,800 was for general factory use. | |
31 | Factory labor used, $756,000, of which $182,000 was indirect. | |
31 | Other costs incurred on account for factory overhead, $245,000; selling expenses, $171,500; and administrative expenses, $110,600. | |
31 | Prepaid expenses expired for factory overhead were $24,500; for selling expenses, $28,420; and for administrative expenses, $16,660. | |
31 | Depreciation of factory equipment was $49,500; of office equipment, $61,800; and of office building, $14,900. | |
31 | Factory overhead costs applied to jobs, $568,500. | |
31 | Jobs completed, $1,500,000. | |
31 | Cost of goods sold, $1,375,000. |
Journalize the entries to record the summarized operations. Refer to the Chart of Accounts for exact wording of account titles.
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Chart of Accounts
CHART OF ACCOUNTS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Journal
Journalize the entries to record the summarized operations. Refer to the Chart of Accounts for exact wording of account titles.
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