Entries for Costs in a Job Order Cost System

Munson Co. uses a job order cost system. The following data summarize the operations related to production for July:

Materials purchased on account, $762,930.

Materials requisitioned, $640,860, of which $83,310 was for general factory use.

Factory labor used, $785,820, of which $149,310 was indirect.

Other costs incurred on account for factory overhead, $183,100; selling expenses, $282,280; and administrative expenses, $167,840.

Prepaid expenses expired for factory overhead, $35,090; for selling expenses, $29,750; and for administrative expenses, $21,360.

Depreciation of office building was $102,230; of office equipment, $51,880; and of factory equipment, $35,090.

Factory overhead costs applied to jobs, $434,870.

Jobs completed, $1,007,070.

Cost of goods sold, $976,550.

Required:

Journalize the entries to record the summarized operations. For a compound transaction, if an amount box does not require an entry, leave it blank.

a. Materials purchased on account, $762,930. Entry Description Debit Credit b. Materials requisitioned, $640,860, of which $83,310 was for general factory use EntryDescription Debit Credit c. Factory labor used, $785,820, of which $149,310 was indirect. Entry Description Debit Credit C. d. Other costs incurred on account for factory overhead, $183,100; selling expenses, $282,280; and administrative expenses, $167,840. Entry d. Description Debit Credit