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Entries for Costs in a Job Order Cost System Munson Co. uses a job order cost system. The following data summarize the operations related
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: a. Materials purchased on account, $763,780 b. Materials requisitioned, $641,580, of which $83,410 was for general factory use Factory labor used, $786,690, of which $149,470 was indirect d. Other costs incurred on account for factory overhead, $183,310; selling expenses, $282,600; and administrative expenses, $168,030 e. Prepaid expenses expired for factory overhead, $35,130; for selling expenses, $29,790; and for administrative expenses, $21,390 f. Depreciation of office building was $102,350; of office equipment, $51,940; and of factory equipment, $35,130 g. Factory overhead costs applied to jobs, $435,350 h. Jobs completed, $1,008,190 i. Cost of goods sold, $977,640 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, $763,780. Entry Description Debit Credit b. Materials requisitioned, $641,580, of which $83,410 was for general factory use. Entry Description Debit Credit c. Factory labor used, $786,690, of which $149,470 was indirect. Description Debit Credit
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