Royal Technology Company uses job order costing. The following data summarize the operations related to production for March:
a. Materials purchased on account, $771,850.
b. Materials requisitioned, $648,350, of which $84,290 was for general factory use.
c. Factory labor used, $795,010, of which $151,050 was indirect.
d. Other costs incurred on account for factory overhead, $185,240; selling expenses, $285,580; and administrative expenses, $169,810.
e. Prepaid expenses expired for factory overhead were $35,510; for selling expenses, $30,100; and for administrative expenses, $21,610.
f. Depreciation of factory equipment was $35,510; of office equipment, $52,490; and of office building, $103,430.
g. Factory overhead costs applied to jobs, $439,950.
h. Jobs completed, $1,018,840.
i. Cost of goods sold, $987,970.
Required:
Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank.
Solution
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