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In: Accounting

Sandhill Printing Corp. uses a job order cost system. The following data summarize the operations related...

Sandhill 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 $194,300, and factory wages incurred $93,000.
2. Materials requisitioned and factory labor used by job:

Job Number

Materials

Factory Labor

A20 $37,140 $19,500
A21 44,220 22,700
A22 36,700 16,900
A23 41,370 26,500
General factory use 5,170 7,400
$164,600 $93,000
3. Manufacturing overhead costs incurred on account $50,400.
4. Depreciation on factory equipment $16,650.
5. Depreciation on the company’s office building was $15,100.
6. Manufacturing overhead rate is 84% of direct labor cost.
7. Jobs completed during the quarter: A20, A21, and A23.

Prepare a schedule showing the individual cost elements and total cost for each job in item 7.


Job

Direct
Materials

Direct
Labor

Manufacturing
Overhead


Total

A20 $ $ $ $
A21
A23
$

Prepare entries to record the operations summarized above. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.

Account Titles and Explanation

Debit

Credit

(1)

(To record materials purchases)

(To record factory wages)

(2)

(To record materials put into production)

(To record labor put into production)

(3)

(4)

(5)

(6)

(7)

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