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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

image text in transcribedimage text in transcribed 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, $711,200 b. Materials requisitioned, $597,410, of which $77,660 was for general factory use c. Factory labor used, $732,540, of which $139,180 was indirect d. Other costs incurred on account for factory overhead, $170,690; selling expenses, $263,140; and administrative expenses, $156,460 e. Prepaid expenses expired for factory overhead, $32,720; for selling expenses, $27,740; and for administrative expenses, $19,910 r. Depreciation of office building was $95,300; of office equipment, $48,360; and of factory equipment, $32,720 g. Factory overhead costs applied to jobs, $405,380 h. Jobs completed, $938,780 i. Cost of goods sold, $910,340 Required: Joumalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank. a. Materials purchased on account, $711,200. b. Materials requisitioned, $597,410, of which $77,660 was for general factory use. c. Factory labor used, $732,540, of which $139,180 was indirect. f. Depreciation of office building was $95,300; of office equipment, $48,360; and of factory equipment, $32,720. g. Factory overhead costs applied to jobs, \$405,380. h. Jobs completed, $938,780. i. Cost of goods sold, $910,340

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