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, $517,000 b. Materials requisitioned, $434,280, of which $56,460 was for general factory use c. Factory labor used, $532,510, of which $101,180 was indirect d. Other costs incurred on account for factory overhead, $124,080; selling expenses, $191,290; and administrative expenses, $113,740 e. Prepaid expenses expired for factory overhead, $23,780; for selling expenses, $20,160; and for administrative expenses, $14,480 f. Depreciation of office building was $69,280; of office equipment, $35,160; and of factory equipment, $23,780 9. Factory overhead costs applied to jobs, $294,690 h. Jobs completed, $682,440 1. Cost of goods sold, $661,760 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, $517,000. Entry 6. Description Debit Credit b. Materials requisitioned, $434,280, of which $56,460 was for general factory use. Entry Description Debit Credit b. c. Factory labor used, $532,510, of which $101,180 was indirect. Entry C Description Debit Credit