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, $490,780 b. Materials requisitioned, $412,260, of which $53,590 was for general factory use c. Factory labor used, $505,500, of which $96,050 was indirect d. Other costs incurred on account for factory overhead, $117,790; selling expenses, $181,590; and administrative expenses, $107,970 e. Prepaid expenses expired for factory overhead, $22,580; for selling expenses, $19,140; and for administrative expenses, $13,740 f. Depreciation of office building was $65,760; of office equipment, $33,370; and of factory equipment, $22,580 g. Factory overhead costs applied to jobs, $279,740 h. Jobs completed, $647,830 i. Cost of goods sold, $628,200 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, $490,780. Entry Description Debit Credit b. Materials requisitioned, $412,260, of which $53,590 was for general factory use. Entry Description Debit LU Credit