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.

Which of the following is most likely to lead to a general decrease in wages? a. elastic demand b. public goods c. an economic recovery d. immigration 2b2t

You have just been hired as a financial analyst for barrington industries. unfortunately, company headquarters (where all of the firm's records are kept) has been destroyed by fire. so, your first job will be to recreate the firm's cash flow statement for the year just ended. the firm had $100,000 in the bank at the end of the prior year, and its working capital accounts except cash remained constant during the year. it earned $5 million in net income during the year but paid $800,000 in dividends to common shareholders. throughout the year, the firm purchased $5.5 million of machinery that was needed for a new project. you have just spoken to the firm's accountants and learned that annual depreciation expense for the year is $450,000; however, the purchase price for the machinery represents additions to property, plant, and equipment before depreciation. finally, you have determined that the only financing done by the firm was to issue long-term debt of $1 million at a 6% interest rate. what was the firm's end- of-year cash balance? recreate the firm's cash flow statement to arrive at your answer

Harwood company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. the company's predetermined overhead rate of $2.50 per machine-hour was based on a cost formula that estimates $240,000 of total manufacturing overhead for an estimated activity level of 96,000 machine-hours. required: 1. assume that during the year the company works only 91,000 machine-hours and incurs the following costs in the manufacturing overhead and work in process accounts: compute the amount of overhead cost that would be applied to work in process for the year and make the entry in your t-accounts. 2a. compute the amount of underapplied or overapplied overhead for the year and show the balance in your manufacturing overhead t-account. 2b. prepare a journal entry to close the company's underapplied or overapplied overhead to cost of goods sold.