Royal Technology Company uses a job order cost system. The following data summarize the operations related to production for March: Mar.
1 Materials purchased on account, $482,690.
1 Materials requisitioned, $405,460, of which $52,710 was for general factory use.
31 Factory labor used, $497,170, of which $94,460 was indirect.
31 Other costs incurred on account for factory overhead, $115,850; selling expenses, $178,600; and administrative expenses, $106,190.
31 Prepaid expenses expired for factory overhead were $22,200; for selling expenses, $18,820; and for administrative expenses, $13,520.
31 Depreciation of factory equipment was $22,200; of office equipment, $32,820; and of office building, $64,680.
31 Factory overhead costs applied to jobs, $275,130.
31 Jobs completed, $637,150.
31 Cost of goods sold, $617,840.

Required:
Journalize the entries to record the summarized operations.

Mar 1

Dr Purchases 482,690  

    Cr Accounts payable 482,690

Mar 1

Dr Work in process 405,460  

    Cr Factory overhead 352,750  

    Cr Materials 52,710

Mar 31

Dr Work in process 402,710  

Dr Factory Overhead 94,460  

    Cr To Wages Payable 497,170

Dr Factory Overhead 115,850

Dr Selling Expenses 178,600

Dr Administrative Expenses 106,190

    Cr To Accounts Payable 100,640

Dr Factory overhead 22,200

Dr Selling expenses 18,820

Dr Administrative expenses 13,520

    Cr Prepaid expenses 54,540

Dr Factory overhead 22,200

Dr  Depreciation expenses 32,820

Dr  Expenses on office building 64,680

    Cr To Accumulated depreciation 119,700

Dr Work in process 275,130

    Cr Factory overhead 275,130

Dr Finished goods 637,150

    Cr Work in process 637,150

Dr Cost of goods sold 617,840

    Cr Finished goods 617,840

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%