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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, $764,570 b. Materials requisitioned, $642,240, of which $83,490 was for general factory use c. Factory labor used, $787,510, of which $149,630 was indirect d. Other costs incurred on account for factory overhead, $183,500; selling expenses, $282,890; and administrative expenses, $168,210 e. Prepaid expenses expired for factory overhead, $35,170; for selling expenses, $29.820; and for administrative expenses, $21,410 t. Depreciation of office bullding was $102,450; of office equipment, $51,990; and of factory equipment, $35,170 g. Factory overhead costs applied to jobs, $435,800 h. Jobs completed, $1,009,230 i. Cost of goods sold, $978,650 Required: Journalize the entries to record the summarized operations. For a compound transaction, if an amount box does not require an entry, leave it blar a. Materials purchased on account, $764,570. b. Materials requisitioned, $642,240, of which $83,490 was for general factory use. b. Materials requisitioned, $642,240, of which $83,490 was for general factory use. c. Factory labor used, $787,510, of which $149,630 was indirect. e. Prepaid expenses expired for factory overhead, $35,170; for selling expenses, $29,820; and for administrative expenses, $21,410. f. Depreciation of office building was $102,450; of office equipment, $51,990; and of factory equipment, $35,170. 9. Factory overhead costs applied to jobs, $435,800. g. Factory overhead costs applied to jobs, $435,800. h. Jobs completed, $1,009,230. i. Cost of goods sold, $978,650
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