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> Royal Technology Company uses job order costing. The following data summarize the operations related to production for March: a. Materials purchased on account, $669,370.
> Royal Technology Company uses job order costing. The following data summarize the operations related to production for March: a. Materials purchased on account, $669,370. b. Materials requisitioned, $562,270, of which $73,100 was for general factory use. c. Factory labor used, $689,450, of which $131,000 was indirect. d. Other costs incurred on account for factory overhead, $160,650; selling expenses, $247,670; and administrative expenses, $147,260. e. Prepaid expenses expired for factory overhead were $30,790; for selling expenses, $26,110; and for administrative expenses, $18,740. f. Depreciation of factory equipment was $30,790; of office equipment, $45,520; and of office building, $89,700. g. Factory overhead costs applied to jobs, $381,540. h. Jobs completed, $883,570. i. Cost of goods sold, $856,790. Required: Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank. a. Materials purchased on account, $669,370. Entry a. Materials b. Entry Description Accounts Payable b. Materials requisitioned, $562,270, of which $73,100 was for general factory use. Description Work in Process Factory Overhead Debit Debit 669,370 Credit 669,370 Credit
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