Barnes Company uses a job order cost system. The following data summarize the operations related to production for October: October 1 Materials purchased on account, $603,850.   2 Materials requisitioned, $641,100, of which $75,300 was for general factory use.   31 Factory labor used, $688,540, of which $90,730 was indirect.   31 Other costs incurred on account for factory overhead, $154,470; selling expenses, $234,760; and administrative expenses, $145,220.   31 Prepaid expenses expired for factory overhead were $30,340; for selling expenses, $27,590; and for administrative expenses, $18,760.   31 Depreciation of office building was $86,990; of office equipment, $41,730; and of factory equipment, $32,800.   31 Factory overhead costs applied to jobs, $363,550.   31 Jobs completed, $1,017,780.   31 Cost of goods sold, $868,240.       JOURNAL ACCOUNTING EQUATION     DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1                 2                 3                 4                 5                 6                 7                 8                 9                 10                 11                 12                 13                 14                 15                 16                 17                 18                 19                 20                 21                 22                 23                 24                 25                 26

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter2: Job Order Costing
Section: Chapter Questions
Problem 1PA: Barnes Company uses a job order cost system. The following data summarize the operations related to...
icon
Related questions
icon
Concept explainers
Topic Video
Question
Barnes Company uses a job order cost system. The following data summarize the operations related to production for October:
October 1 Materials purchased on account, $603,850.
  2 Materials requisitioned, $641,100, of which $75,300 was for general factory use.
  31 Factory labor used, $688,540, of which $90,730 was indirect.
  31 Other costs incurred on account for factory overhead, $154,470; selling expenses, $234,760; and administrative expenses, $145,220.
  31 Prepaid expenses expired for factory overhead were $30,340; for selling expenses, $27,590; and for administrative expenses, $18,760.
  31 Depreciation of office building was $86,990; of office equipment, $41,730; and of factory equipment, $32,800.
  31 Factory overhead costs applied to jobs, $363,550.
  31 Jobs completed, $1,017,780.
  31

Cost of goods sold, $868,240.

 

 

 
JOURNAL
ACCOUNTING EQUATION
 
  DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY
1
 
 
 
 
 
 
 
 
2
 
 
 
 
 
 
 
 
3
 
 
 
 
 
 
 
 
4
 
 
 
 
 
 
 
 
5
 
 
 
 
 
 
 
 
6
 
 
 
 
 
 
 
 
7
 
 
 
 
 
 
 
 
8
 
 
 
 
 
 
 
 
9
 
 
 
 
 
 
 
 
10
 
 
 
 
 
 
 
 
11
 
 
 
 
 
 
 
 
12
 
 
 
 
 
 
 
 
13
 
 
 
 
 
 
 
 
14
 
 
 
 
 
 
 
 
15
 
 
 
 
 
 
 
 
16
 
 
 
 
 
 
 
 
17
 
 
 
 
 
 
 
 
18
 
 
 
 
 
 
 
 
19
 
 
 
 
 
 
 
 
20
 
 
 
 
 
 
 
 
21
 
 
 
 
 
 
 
 
22
 
 
 
 
 
 
 
 
23
 
 
 
 
 
 
 
 
24
 
 
 
 
 
 
 
 
25
 
 
 
 
 
 
 
 
26
 
 
 
 
 
 
 
 
 
 

 

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 3 images

Blurred answer
Knowledge Booster
Costing Systems
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Cost Accounting
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,