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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 to
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, $770,870 b. Materials requisitioned, $647,530, of which $84,180 was for general factory use c. Factory labor used, $794,000, of which $150,860 was indirect d. Other costs incurred on account for factory overhead, $185,010; selling expenses, $285,220; and administrative expenses, $169,590 e. Prepaid expenses expired for factory overhead, $35,460; for selling expenses, $30,060; and for administrative expenses, $21,580 f. Depreciation of office building was $103,300; of office equipment, $52,420; and of factory equipment, $35,460 g. Factory overhead costs applied to jobs, $439,400 h. Jobs completed, $1,017,550 i. Cost of goods sold, $986,710 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
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