Chapter 2, Problem 1PB

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:

1. A. Materials purchased on account, $770,000.
2. B. Materials requisitioned, $680,000, of which $75,800 was for general factory use.
3. C. Factory labor used, $756,000, of which $182,000 was indirect.
4. D. Other costs incurred on account for factory overhead, $245,000; selling expenses, $171,500; and administrative expenses, $110,600.
5. E. Prepaid expenses expired for factory overhead were $24,500; for selling expenses, $28,420; and for administrative expenses, $16,660.
6. F. Depreciation of factory equipment was $49,500; of office equipment, $61,800; and of office building, $14,900.
7. G. Factory overhead costs applied to jobs, $568,500.
8. H. Jobs completed, $1,500,000.
9. I. Cost of goods sold, $1,375,000.

Instruction

Journalize the entries to record the summarized operations.