Entries for Costs in Job Order Costing Royal Technology Company uses job order costing. The following data summarize the operations related to production for March: a. Materials purchased on account, $503,200. b. Materials requisitioned, $422,690, of which $54,950 was for general factory use. c. Factory labor used, $518,300, of which $98,480 was indirect. d. Other costs incurred on account for factory overhead, $120,770; selling expenses, $186,180; and administrative expenses, $110,700.. e. Prepaid expenses expired for factory overhead were $23,150; for selling expenses, $19,620; and for administrative expenses, $14,090. f. Depreciation of factory equipment was $23,150; of office equipment, $34,220; and of office building, $67,430. g. Factory overhead costs applied to jobs, $286,820. h. Jobs completed, $664,220. i. Cost of goods sold, $644,100. Required: Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank.

Entries for Costs in Job Order Costing Royal Technology Company uses job order costing. The following data summarize the operations related to production for March: a. Materials purchased on account, $503,200. b. Materials requisitioned, $422,690, of which $54,950 was for general factory use. c. Factory labor used, $518,300, of which $98,480 was indirect. d. Other costs incurred on account for factory overhead, $120,770; selling expenses, $186,180; and administrative expenses, $110,700.. e. Prepaid expenses expired for factory overhead were $23,150; for selling expenses, $19,620; and for administrative expenses, $14,090. f. Depreciation of factory equipment was $23,150; of office equipment, $34,220; and of office building, $67,430. g. Factory overhead costs applied to jobs, $286,820. h. Jobs completed, $664,220. i. Cost of goods sold, $644,100. Required: Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank.

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Description: Entries for Costs in Job Order CostingRoyal Technology Company uses job order costing. The following data summarize the operations related to production for March:a. Materials purchased on account, $503,200.b. Materials requisitioned, $422,690, of w

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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