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: 3. Materials purchased on account, $516,700 b. Materials requisitioned, 5434,030, of which $56,420 was for general factory use c. Factory labor used, 5532,200, of which $101,120 was indirect d. Other costs incurred on account for factory overhead, s124,010; selling expenses, $191,180; and administrative expenses, $113,670 e. Prepaid expenses expired for factory overhead, $23,770: for selling expenses, $20,150; and for administrative expenses, $14,470 f. Depreciation of office building was $69,240; of office equipment, 535 140 and of factory equipment, $23,770 g. Factory overhead costs applied to fobs, $294,520 h. Jobs completed, $682,040 1. Cost of goods sold, $661,380 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, $516,700. Entry Description Debit Credit b. Materials requisitioned, $434,030, of which $56,420 was for general factory use. Entry Description Debit Credit b. c. Factory labor used, $532,200, of which $ 101,120 was indirect. Entry Description Debit Credit d. Other costs incurred on account for factory overhead, $124,010; selling expenses, $191,180; and administrative expenses, $113,670. Entry Description Credit Debit d. e. Prepaid expenses expired for factory overhead, $23,770; for selling expenses, $20,150; and for administrative expenses, $14,470. Entry Description Debit Credit e f. Depreciation of office building was $69,240; of office equipment, $35,140; and of factory equipment, $23,770. Entry Description Debit Credit f. g. Factory overhead costs applied to jobs, $294,520. Entry Description Debit Credit 0 h. Jobs completed, $682,040. Entry Description Debit Credit h. i. Cost of goods sold, $ 661,380. Entry Description Debit Credit