Entries for Costs in a Job Order Cost System Velasco Co. uses a job order cost system. The following data summarize the operations related to production for July: a. Materials purchased on account, $545,180 b. Materials requisitioned, $457,950, of which $59,530 was for general factory use c. Factory labor used, $561,540, of which $106,690 was indirect d. Other costs incurred on account for factory overhead, $130,840; selling expenses, $201,720; and administrative expenses, $119,940 e. Prepaid expenses expired for factory overhead, $25,080; for selling expenses, $21,260; and for administrative expenses $15,270 f. Depreciation of office building was $73,050; of office equipment, $37,070; and of factory equipment, $25,080 9. Factory overhead costs applied to jobs, $310,750 n. Jobs completed, $719,640 1. Cost of goods sold, $697,830 >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, $545,180. Entry Description Credit Debit b. Materials requisitioned, $457,950, of which $59,530 was for general factory use. Entry Description Debit Credit b. c. Factory labor used, $561,540, of which $106,690 was indirect. Entry Description Debit Credit C. Factory labor used, $561,540, of which $106,690 was indirect. Entry Description Debit Credit d. Other costs incurred on account for factory overhead, $130,840; seling expenses, $201,720; and administrative expenses, $119,940. Entry Description Debit Credit d. > Accounting numeric field e. Prepaid expenses expired for factory overhead, $25,080; for selling expenses, $21,260; and for administrative expenses, $15,270. Description Debit Credit Entry f. Depreciation of office building was $73,050; of office equipment, $37,070; and of factory equipment, $25,080. Entry Description Debit Credit f. Depreciation of office building was $73,050; of office equipment, $37,070; and of factory equipment, $25,080. Entry Description Debit Credit g. Factory overhead costs applied ty jobs, $310,750. Entry Description Debit Credit 9 h. Jobs completed, $719,640. Entry Description Debit Credit h. I. Cost of goods sold, $697,830. Entry Description Debit Credit