Entries for Costs in a Job Order Cost System Royal Technology Company uses a job order cost system. The following data summarize the operations related to production for March: a. Materials purchased on account, $537,440. b. Materials requisitioned, $451,450, of which $58,690 was for general factory use. c. Factory labor used, $553,560, of which $105,180 was indirect. d. Other costs incurred on account for factory overhead, $128,990; selling expenses, $198,850; and administrative expenses, $118,240. e. Prepaid expenses expired for factory overhead were $24,720; for selling expenses, $20,960; and for administrative expenses, $15,050. f. Depreciation of factory equipment was $24,720; of office equipment, $36,550; and of office building, $72,020. g. Factory overhead costs applied to jobs, $306,340. h. Jobs completed, $709,420. i. Cost of goods sold, $687,920. Required: Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank. a. Materials purchased on account, $537,440. Entry Description Debit Credit a. Materials 537,440 Accounts Payable 537,440 b. Materials requisitioned, $451,450, of which $58,690 was for general factory use. Entry Description Debit Credit b. Work in Process 58,690 X Factory Overhead 510,410 X Materials 451,450 c. Factory labor used, $553,560, of which $105,180 was indirect. Entry Description Debit Credit d. Other costs incurred on account for factory overhead, $128,990; selling expenses, $198,850; and administrative expenses, $118,240. Entry Description Debit Credit d. e. Prepaid expenses expired for factory overhead were $24,720; for selling expenses, $20,960; and for administrative expenses, $15,050. Entry Description Debit Credit e. f. Depreciation of factory equipment was $24,720; of office equipment, $36,550; and of office building, $72,020. Entry Description Debit Credit f. g. Factory overhead costs applied to jobs, $306,340. Entry Description Debit Credit g. h. Jobs completed, $709,420. Entry Description Debit Credit h. i. Cost of goods sold, $687,920. Description Entry Debit Credit