During the current month, Sheridan Company incurs the following manufacturing costs. (a) (b) (c) Purchased raw materials of $17,700 on account. Incurred factory labor of $38,400. Factory utilities of $3,200 are payable, prepaid factory property taxes of $2,660 have expired, and depreciation on the factory building is $9,600. Record the company's manufacturing costs in its job order costing system.

During the current month, Sheridan Company incurs the following manufacturing costs. (a) (b) (c) Purchased raw materials of $17,700 on account. Incurred factory labor of $38,400. Factory utilities of $3,200 are payable, prepaid factory property taxes of $2,660 have expired, and depreciation on the factory building is $9,600. Record the company's manufacturing costs in its job order costing system.

Name: During the current month, Sheridan Company incurs the following manuf
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Description: During the current month, Sheridan Company incurs the following manufacturing costs.(a) Purchased raw materials of $17,700 on account.(b)Incurred factory labor of $38,400.(c)Factory utilities of $3,200 are payable, prepaid factory property taxes of

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 12PA: The following data summarize the operations during the year. Prepare a journal entry for each...

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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, 16,660. 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, 568,500. H. Jobs completed, 1,500,000. I. Cost of goods sold, 1,375,000. Instruction Journalize the entries to record the summarized operations.
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