Entries for Costs in a Job Order Cost System Velasco Co. uses a job order cost...

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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 to production for July: a. Materials purchased on account, $559,350 b. Materials requisitioned, $469,850, of which $61,080 was for general factory use c. Factory labor used, $576,130, of which $109,460 was indirect d. Other costs incurred on account for factory overhead, $134,240; selling expenses, $206,960; and administrative expenses, $123,060 e. Prepaid expenses expired for factory overhead, $25,730; for selling expenses, $21,810; and for administrative expenses, $15,660 f. Depreciation of office building was $74,950; of office equipment, $38,040; and of factory equipment, $25,730 g. Factory overhead costs applied to jobs, $318,830 h. Jobs completed, $738,340 i. Cost of goods sold, $715,970 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, $559,350. Entry Description Debit Credit a. b. Materials requisitioned, $469,850, of which $61,080 was for general factory use. Entry Description Debit Credit b. c. Factory labor used, $576,130, of which $109,460 was indirect. Entry Description Debit Credit C. d. Other costs incurred on account for factory overhead, $134,240; selling expenses, $206,960; and administrative expenses, $123,060. Entry Description Debit Credit d. 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, $559,350 b. Materials requisitioned, $469,850, of which $61,080 was for general factory use c. Factory labor used, $576,130, of which $109,460 was indirect d. Other costs incurred on account for factory overhead, $134,240; selling expenses, $206,960; and administrative expenses, $123,060 e. Prepaid expenses expired for factory overhead, $25,730; for selling expenses, $21,810; and for administrative expenses, $15,660 f. Depreciation of office building was $74,950; of office equipment, $38,040; and of factory equipment, $25,730 g. Factory overhead costs applied to jobs, $318,830 h. Jobs completed, $738,340 i. Cost of goods sold, $715,970 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, $559,350. Entry Description Debit Credit a. b. Materials requisitioned, $469,850, of which $61,080 was for general factory use. Entry Description Debit Credit b. c. Factory labor used, $576,130, of which $109,460 was indirect. Entry Description Debit Credit C. d. Other costs incurred on account for factory overhead, $134,240; selling expenses, $206,960; and administrative expenses, $123,060. Entry Description Debit Credit d.