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Sheridan Printing Corp, uses a job order cost system. The following data summarize the operations related to the first quarter's production 1. Materials purchased on
Sheridan Printing Corp, uses a job order cost system. The following data summarize the operations related to the first quarter's production 1. Materials purchased on account $197.100, and factory wages incurred $93.300. 2 Materials requisitioned and factory labor used by job Job Number A20 Materials $37.840 Factory Labor $19.000 23.700 15.700 26.500 A23 General factory use 36.700 40.370 5.270 $164.800 8.400 393.300 3. Manufacturing overhead costs incurred on account $52.200 Depreciation on factory equipment $16.750. 5. Depreciation on the company's office building was $15.000 6. Manufacturing overhead rate is 86% of direct labor cost. 7. Jobs completed during the quarter: A20, A21, and A23. Prepare a schedule showing the individual cost elements and total cost for each job in item 7. Direct Materials Job Direct Labor Manufacturing Overhead Total A20 $ $ A21 A23 $ Prepare entries to record the operations summarized above. (Credit account titles are automatically indented when amount is entered Do not indent manually) No. Account Titles and Explanation Debit Credit (1) (To record materials purchases) (To record factory wages) (2) (To record materials put into production) (To record labor put into production) (3) (4) (5) (6) (7)
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