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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, $511,880 b. Materials requisitioned, $429,980, of which $55,900 was for general factory use c. Factory labor used, $527,240, of which $100,180 was indirect d. Other costs incurred on account for factory overhead, $122,850; selling expenses, $189,400; and administrative expenses, $112,610 e. Prepaid expenses expired for factory overhead, $23,550; for selling expenses, $19,960; and for administrative expenses, $14,330 f. Depreciation of office building was $68,590; of office equipment, $34,810; and of factory equipment, $23,550 9. Factory overhead costs applied to jobs, $291,770 h. Jobs completed, $675,680 1. Cost of goods 50ld,$655,210 Required: Journalize the entries to record the summarized operations. For a compound transaction, if an amount box does not require an entry, teave it bla a. Materials purchased on account, $511,880. b. Materals requalitioned, 5429,980 , of which $55,900 was for qeneral factory use. b. Materials requisitioned, $429,980, of which $55,900 was for general factory use. c. Factory labor used, $527,240, of which $100,180 was indirect. d. Other costs incurred on account for factory overhead, 5122,850; felling expenses, $189,400: and administrative expense5, 5112,610 . f. Depreciation of office building was $68,590; of affice equipment, $34,810; and of factory equipment, $23,550. 9. Factory overhead costs applied to Jobs, $291,770. g. Factory overhead costs applied to jobs, $291,770. h. Jobs completed, $675,680. i. Cost of goods sold, $655,210
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