Refer to the information presented in PB2-1 for Coda Industries. Information from PB2-1 (a) Purchased materials on account at a cost of $270,500. (b) Requisitioned materials at a cost of $195,500, only $180,000 of which was traceable to specific jobs. (c) Recorded factory labor of $267,000, 80 percent of which was direct. (d) Incurred other costs: Selling expenses …… $ 65,300 Factory utilities …… 68,300 Administrative expenses … 92,500 Factory rent ……. 125,000 Factory depreciation …. 64,800 (e) Applied overhead during the month totaling $290,000. (f) Completed jobs costing $607,250. (g) Sold jobs costing $557,700. (h) Recorded sales revenue of $850,000. Required: Prepare all of Coda’s necessary journal entries for the month of November.
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