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, $495,020 b. Materials requisitioned, $415,820, of which $54,060 was for general factory use c. Factory labor used, $509,870, of which $96,880 was indirect d. Other costs incurred on account for factory overhead, $118,800; selling expenses, $183,160; and administrative expenses, $108,900 e. Prepaid expenses expired for factory overhead, $22,770; for selling expenses, $19,310; and for administrative expenses, $13,860 f. Depreciation of office building was $66,330; of office equipment, $33,660; and of factory equipment, $22,770 g. Factory overhead costs applied to jobs, $282,160 h. Jobs completed, $653,430 1. Cost of goods sold, $633,630 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, $495,020. Entry a. Description Debit Credit b. Materials requisitioned, $415,820, of which $54,060 was for general factory use. Entry b. Description Debit Credit