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, $526,510 b. Materials requisitioned, $442,270, of which $57,500 was for general factory use c. Factory labor used, $542,310, of which $103,040 was indirect d. Other costs incurred on account for factory overhead, $126,360; selling expenses, $194,810; and administrative expenses, $115,830 e. Prepaid expenses expired for factory overhead, $24,220; for selling expenses, $20,530; and for administrative expenses, $14,740 f. Depreciation of office building was $70,550; of office equipment, $35,800; and of factory equipment, $24,220 g. Factory overhead costs applied to jobs, $300,110 h. Jobs completed, $694,990 i. Cost of goods sold, $673,930 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, $526,510. Entry a. Description Debit Credit b. Materials requisitioned, $442,270, of which $57,500 was for general factory use. Entry Description Debit Credit