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Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production.

1. Materials purchased on account $192,000, and factory wages incurred $87,300.

2. Materials requisitioned and factory labor used by job:

3. Manufacturing overhead costs incurred on account $49,500.

4. Depreciation on factory equipment $14,550

5. Depreciation on the company's office building was $14,300

6. Manufacturing overhead rate is 90% of the direct labor cost.

7. Jobs completed during the quarter: A20, A21, and A23.

 

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Joshua Stredder
Joshua StredderLv10
21 Jan 2021

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Entries for Costs in a Job Order Cost System

Journalize the entries to record the summarizedoperations. For a compound transaction, if an amount box does notrequire an entry, leave it blank.

Royal Technology Company uses a job order cost system. Thefollowing data summarize the operations related to production forMarch:

Materials purchased on account, $770,000.

Materials requisitioned, $680,000, of which $75,800 was forgeneral factory use.

Factory labor used, $756,000, of which $182,000 wasindirect.

Other costs incurred on account for factory overhead, $245,000;selling expenses, $171,500; and administrative expenses,$110,600.

Prepaid expenses expired for factory overhead, $24,500; forselling expenses, $28,420; and for administrative expenses,$16,660.

Depreciation of factory equipment was $49,500; of officeequipment, $61,800; and of office building, $14,900.

Factory overhead costs applied to jobs, $568,500.

Jobs completed, $1,500,000.

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Churchill Co. uses a job order cost system. The following data summarize the operations related to p… Show more Churchill Co. uses a job order cost system. The following data summarize the operations related to production for November: Materials purchased on account, $528,000. Materials requisitioned, $462,000, of which $58,800 was for general factory use. Factory labor used, $545,200, of which $76,400 was indirect. Other costs incurred on account for factory overhead, $123,400; selling expenses, $195,500; and administrative expenses, $121,800. Prepaid expenses expired for factory overhead were $24,360; for selling expenses, $20,600; and for administrative expenses, $14,900. Depreciation of office building was $70,500; of office equipment, $36,120; and of factory equipment, $24,360. Factory overhead costs applied to jobs, $300,400. Jobs completed, $840,000. Cost of goods sold, $740,000. Required: Journalize the entries to record the summarized operations. For a compound transaction, if an amount box does not require an entry, leave it blank or enter “0”. • Show less

Staircase equipment company uses a job order cost system. The following data summarize the operations related to production for April 2010, the first operations:

a. Materials purchased on account, $23,400.

b. Materials requisitioned and factory labor used:

c. Factory overhead costs incurred on account, $4,500.

d. Depreciation of machinery and equipment, $1,560.

e. The factory overhead rate is $50 per machine hour. Machine hours used:

f. Jobs completed: 201, 202, 203, and 205.

g. Jobs were shipped and customers were billed as follows: Job 201, $6,450; Job 202, $8,820; Job 203, $11,880.

 

Instructions:

1. Prepare a schedule summarizing manufacturing costs by job for April. Use the following form: 

2. Prepare a schedule of jobs finished in April.

3. Prepare a schedule of jobs sold in April. What account does this schedule support for the month of April?

4. Prepare a schedule of completed jobs on hand as of April 30, 2010. What account does this schedule support?

5. Prepare a schedule of unfinished jobs as of April 30, 2010. What account does this schedule support?

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