FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Barnes Company uses a job order cost system. The following data summarize the operations related to production for October:
October | 1 | Materials purchased on account, $315,500. |
2 | Materials requisitioned, $290,100, of which $8,150 was for general factory use. | |
31 | Factory labor used, $489,500, of which $34,200 was indirect. | |
31 | Other costs incurred on account for factory |
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31 | Prepaid expenses expired for factory overhead were $18,000; for selling expenses, $6,000; and for administrative expenses, $5,000. | |
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31 | ||
31 | Jobs completed, $1,425,000. | |
31 | Cost of goods sold, $1,380,000. |
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Barnes Co. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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