Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac

Exercise 29

Entries for costs in a job order cost system
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, $770,000.
b. Materials requisitioned, $680,000, of which $75,800 was for general factory use.
c. Factory labor used, $756,000, of which $182,000 was indirect.
d. Other costs incurred on account for factory overhead, $245,000; selling expenses, $171,500; and administrative expenses, $110,600.
e. Prepaid expenses expired for factory overhead were $24,500; for selling expenses, $28,420; and for administrative expenses, $16,600.
f. Depreciation of factory equipment was $49,500; of office equipment, $61,800; and of office building, $14,900.
g. Factory overhead costs applied to jobs, $568 f 500.
h. Jobs completed, $1,500,000.
i. Cost of goods sold, $1375,000.
Instruction
Journalize the entries to record the summarized operations.