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, $709,400 b. Materials requisitioned, $595,900, of which $77,470 was for general factory use c. Factory labor used, $730,680, of which $138,830 was indirect d. Other costs incurred on account for factory overhead, $170,260; selling expenses, $262,480; and administrative expenses, $156,070 e. Prepaid expenses expired for factory overhead, $32,630; for selling expenses, $27,670; and for administrative expenses, $19,860 f. Depreciation of office building was $95,060; of office equipment, $48,240; and of factory equipment, $32,630 g. Factory overhead costs applied to jobs, $404,360 h. Jobs completed, $936,410 1. Cost of goods sold, $908,030 Required: 4 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, $709,400. Entry Description Debit Credit b. Materials requisitioned, $595,900, of which $77,470 was for general factory use. Entry Description Debit Credit c. Factory labor used, $730,680, of which $138,830 was indirect Entry Description Debit Credit Previous c. Factory labor used, $730,680, of which $138,830 was indirect. Entry Description Debit Credit d. Other costs incurred on account for factory overhead, $170,260; selling expenses, $262,480; and administrative expenses, $156,070. Entry Description Debit Credit d. e. Prepaid expenses expired for factory overhead, $32.630; for selling expenses, $27,670; and for administrative expenses, $19.860. Description Entry Debit Credit 1. Depreciation of office building was $95,060; of office equipment, $48,240; and of factory equipment, $32,630. Entry Description Debit Credit Entry Description Debit Credit f. g. Factory overhead costs applied to jobs, $404,360 Entry 9- Description h. Jobs completed, $936,410. Entry h. Description i. Cost of goods sold. $908,030. Entry Description Debit Credit Debit Credit Debit Credit