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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
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, $639,000 b. Materials requisitioned, $536,760, of which $69,780 was for general factory use c. Factory labor used, $658,170, of which $125,050 was indirect d. Other costs incurred on account for factory overhead, $153,360; selling expenses, $236,430; and administrative expenses, $140,580 e. Prepaid expenses expired for factory overhead, $29,390; for selling expenses, $24,920; and for administrative expenses, $17,890 f. Depreciation of office building was $85,630; of office equipment, $43,450; and of factory equipment, $29,390 g. Factory overhead costs applied to jobs, $364,230 h. Jobs completed, $843,480 i. Cost of goods sold, $817,920 Required: Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank.
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