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, $674,350 b. Materials requisitioned, $566,450, of which $73,640 was for general factory use c. Factory labor used, $694,580, of which $131,970 was indirect d. Other costs incurred on account for factory overhead, $161,840; selling expenses, $249,510; and administrative expenses, $148,360 e. Prepaid expenses expired for factory overhead, $31,020; for selling expenses, $26,300; and for administrative expenses, $18,880 f. Depreciation of office building was $90,360; of office equipment, $45,860; and of factory equipment, $31,020 g. Factory overhead costs applied to jobs, $384,380 h. Jobs completed, $890,140 i. Cost of goods sold, $863,170 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, $674,350. Entry Description Debit Credit a. Materials 674,350 Accounts Payable 674,350 b. Materials requisitioned, $566,450, of which $73,640 was for general factory use. Entry Description Debit Credit b. Work in Process 492,810 Factory Overhead 73,640 Materials 566,450