Enos Printing Corp. uses a job order cost system. The following data summarize the operations related to the first quarter's production.
- Materials purchased on account $192, 000, and factory wages incurred $87,300.
- Materials requisitioned and factory labor used by job:
Job Number Materials Factory Labor A20 $35,240 $18,000 A21 42,920 22,000 A22 36,100 15,000 A23 39,270 25,000 General Factory Use 4,470 7,300 $158,000 $87,300 - manufacturing overhead costs incurred on account $49,500
- Depreciation on Factory equipment $14,550.
- Depreciation on the company's office building was $14,300.
- Manufacturing overhead rate is 90% of direct labor costs.
- Jobs completed during the quarter: A20, A21, and A23.
Instructions
Prepare entries to record the operations summarized above. (Prepare a schedule showing the individual cost elements and total cost for each job in item 7.).
Solution
Enos Printing Corp.
Journal entries
