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, $613,020.

Materials requisitioned, $514,940, of which $66,940 was for general factory use.

Factory labor used, $631,410, of which $119,970 was indirect.

Other costs incurred on account for factory overhead, $147,120; selling expenses, $226,820; and administrative expenses, $134,860.

Prepaid expenses expired for factory overhead, $28,200; for selling expenses, $23,910; and for administrative expenses, $17,160.

Depreciation of office building was $82,140; of office equipment, $41,690; and of factory equipment, $28,200.

Factory overhead costs applied to jobs, $349,420.

Jobs completed, $809,190.

Cost of goods sold, $784,670.

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, $613,020.

Entry	Description	Debit	Credit
a.

b. Materials requisitioned, $514,940, of which $66,940 was for general factory use.

Entry	Description	Debit	Credit
b.

c. Factory labor used, $631,410, of which $119,970 was indirect.

Entry	Description	Debit	Credit
c.

d. Other costs incurred on account for factory overhead, $147,120; selling expenses, $226,820; and administrative expenses, $134,860.

Entry	Description	Debit	Credit
d.

e. Prepaid expenses expired for factory overhead, $28,200; for selling expenses, $23,910; and for administrative expenses, $17,160.

Entry	Description	Debit	Credit
e.

f. Depreciation of office building was $82,140; of office equipment, $41,690; and of factory equipment, $28,200.

Entry	Description	Debit	Credit
f.

g. Factory overhead costs applied to jobs, $349,420.

Entry	Description	Debit	Credit
g.

h. Jobs completed, $809,190.

Entry	Description	Debit	Credit
h.

i. Cost of goods sold, $784,670.

Entry	Description	Debit	Credit
i.