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Entries for costs in a job order cost system Instructions Chart of Accounts Journal Instructions Munson Co. uses a job order cost system. The following
Entries for costs in a job order cost system Instructions Chart of Accounts Journal Instructions Munson Co. uses a job order cost system. The following data summarize the operations related to production for July: July 1 Materials purchased on account, $663,320. 2 31 31 Materials requisitioned, $618,780, of which $71,310 was for general factory use. Factory labor used, $640,350, of which $88,200 was indirect. Other costs incurred on account for factory overhead, $140,430; selling expenses, $245,050; and administrative expenses, $145,440. Prepaid expenses expired for factory overhead were $30,100; for selling expenses, $27,880, and for administrative expenses, $18,590 31 Depreciation of office building was $86,490, of office equipment, $45, 350, and of factory equipment, $30,880 31 Factory overhead costs applied to jobs, $365,760. 31 31 Jobs completed, $1,017,410. Cost of goods sold, $911,220. Required: Journalize the entries to record the summarized operations. Refer to the Chart of Accounts for exact wording of account titles
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