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 Materials purchased on account, $695,900 Materials requisitioned, $584,560, of which $75,990 was for general factory use Factory labor used, $716,780, of which $136,190 was indirect Other costs incurred on account for factory overhead, $167,020 selling expenses, $257,480 and administrative expenses, $153,100 Prepaid expenses expired for factory overhead, $32,010 for selling expenses, $27,140 and for administrative expenses, $19,490 Depreciation of office building was $93,250 of office equipment, $47,320 and of factory equipment, $32,010 Factory overhead costs applied to jobs, $396,660 Jobs completed, $918,590 Cost of goods sold, $890,750 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, $695,900 Entry Description Debit Credit a fill in the blank fill in the blank fill in the blank fill in the blank b Materials requisitioned, $584,560, of which $75,990 was for general factory use Entry Description Debit Credit b fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank c Factory labor used, $716,780, of which $136,190 was indirect Entry Description Debit Credit c fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank d Other costs incurred on account for factory overhead, $167,020 selling expenses, $257,480 and administrative expenses, $153,100 Entry Description Debit Credit d fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank e Prepaid expenses expired for factory overhead, $32,010 for selling expenses, $27,140 and for administrative expenses, $19,490 Entry Description Debit Credit e fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank f Depreciation of office building was $93,250 of office equipment, $47,320 and of factory equipment, $32,010 Entry Description Debit Credit f fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank g Factory overhead costs applied to jobs, $396,660 Entry Description Debit Credit g fill in the blank fill in the blank fill in the blank fill in the blank h Jobs completed, $918,590 Entry Description Debit Credit h fill in the blank fill in the blank fill in the blank fill in the blank i Cost of goods sold, $890,750 Entry Description Debit Credit i fill in the blank fill in the blank fill in the blank fill in the blank

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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:

Materials purchased on account, $695,900
Materials requisitioned, $584,560, of which $75,990 was for general factory use
Factory labor used, $716,780, of which $136,190 was indirect
Other costs incurred on account for factory overhead, $167,020; selling expenses, $257,480; and administrative expenses, $153,100
Prepaid expenses expired for factory overhead, $32,010; for selling expenses, $27,140; and for administrative expenses, $19,490
Depreciation of office building was $93,250; of office equipment, $47,320; and of factory equipment, $32,010
Factory overhead costs applied to jobs, $396,660
Jobs completed, $918,590
Cost of goods sold, $890,750

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, $695,900.

Entry	Description	Debit	Credit
a.		fill in the blank	fill in the blank
		fill in the blank	fill in the blank

b. Materials requisitioned, $584,560, of which $75,990 was for general factory use.

Entry	Debit	Credit
b.	fill in the blank	fill in the blank
	fill in the blank	fill in the blank
	fill in the blank	fill in the blank

c. Factory labor used, $716,780, of which $136,190 was indirect.

Entry	Debit	Credit
c.	fill in the blank	fill in the blank
	fill in the blank	fill in the blank
	fill in the blank	fill in the blank

d. Other costs incurred on account for factory overhead, $167,020; selling expenses, $257,480; and administrative expenses, $153,100.

Entry	Debit	Credit
d.	fill in the blank	fill in the blank
	fill in the blank	fill in the blank
	fill in the blank	fill in the blank
	fill in the blank	fill in the blank

e. Prepaid expenses expired for factory overhead, $32,010; for selling expenses, $27,140; and for administrative expenses, $19,490.

Entry	Debit	Credit
e.	fill in the blank	fill in the blank
	fill in the blank	fill in the blank
	fill in the blank	fill in the blank
	fill in the blank	fill in the blank

f. Depreciation of office building was $93,250; of office equipment, $47,320; and of factory equipment, $32,010.

Entry	Debit	Credit
f.	fill in the blank	fill in the blank
	fill in the blank	fill in the blank
	fill in the blank	fill in the blank
	fill in the blank	fill in the blank
	fill in the blank	fill in the blank
	fill in the blank	fill in the blank