Garnett Printing Corp. uses a job order cost system. The following data summariz

Question

Garnett 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

     4,470

    7,300

$158,000

$87,300

Manufacturing overhead costs incurred on account $39,500.

Depreciation on machinery and equipment $14,550.

Manufacturing overhead rate is 80% of direct labor cost.

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

Instructions

Prepare entries to record the operations summarized above. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.)

Complete the schedule showing the individual cost elements and total cost for each job in item 6.

Job

Direct Material

Direct Labor

Manufacturing Overhead

Total

$

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

Explanation / Answer

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