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, $801,700
• Materials requisitioned, $673,430, of which $87,550 was for general factory use
• Factory labor used, $825,750, of which $156,890 was indirect
• Other costs incurred on account for factory overhead, $192,410; selling expenses, $296,630; and administrative expenses, $176,370
• Prepaid expenses expired for factory overhead, $36,880; for selling expenses, $31,270; and for administrative expenses, $22,450
• Depreciation of office building was $107,430; of office equipment, $54,520; and of factory equipment, $36,880
• Factory overhead costs applied to jobs, $456,970
• Jobs completed, $1,058,240
• Cost of goods sold, $1,026,180

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, $801,700 b. Materials requisitioned, $673,430, of which $87,550 was for general factory use c. Factory labor used, $825,750, of which $156,890 was indirect d. Other costs incurred on account for factory overhead, $192,410; selling expenses, $296,630; and administrative expenses, $176,370 e. Prepaid expenses expired for factory overhead, $36,880, for selling expenses, $31,270, and for administrative expenses, $22.450 f. Depreciation of office building was $107.430, of office equipment, $54,520, and of factory equipment, $36,880 9. Factory overhead costs applied to jobs, $456,970 h. Jobs completed, $1,058,240 1. Cost of goods sold, $1,026,180 Required: a. Materials purchased on account, $801,700. Entry Description Debit Credit a. b. Materials requisitioned, $673,430, of which $87,550 was for general factory use. Entry Description Debit Credit b. c. Factory labor used, $825,750, of which $156,890 was indirect. Entry Description Debit Credit C. d. Other costs incurred on account for factory overhead, $192,410; selling expenses, $296,630; and administrative expenses, $176,370. Entry Description Debit Credit d. e. Prepaid expenses expired for factory overhead, $36,880; for selling expenses, $31,270, and for administrative expenses, $22,450 Entry Description Debit Credit e. 1. Depreciation of office building was $107,430; of office equipment, $54,520, and of factory equipment, $36,880 Entry Description Debit Credit Depreciation of office building was $107,430; of office equipment, $54,520; and of factory equipment, $36,880. Entry Description Debit Credit . 9. Factory overhead costs applied to jobs, $456,970. Entry Description Debit Credit 9 h. Jobs completed, $1,058,240, Entry Description Debit Credit h 1. Cost of goods sold, $1,026,180. Entry Description Debit 1 Credit