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, $731,720 b. Materials requisitioned, $614,640, of which $79,900 was for general factory use c. Factory labor used, $753,670, of which $143,200 was indirect d. Other costs incurred on account for factory overhead, $175,610; selling expenses, $270,740; and administrative expenses, $160,980 e. Prepaid expenses expired for factory overhead, $33,660; for selling expenses, $28,540, and for administrative expenses, $20,490 f. Depreciation of office building was $98,050; of office equipment, $49,760; and of factory equipment, $33,660 9. Factory overhead costs applied to jobs, $417,080 h. Jobs completed, $965,870 1. Cost of goods sold, $936,600 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, $731,720. Entry Description Debit Credit b. Materials requisitioned, $614,640, of which $79,900 was for general factory use. Entry Description Debit Credit b. c. Factory labor used, $753,670, of which $143,200 was indirect. Entry Description Debit Credit c. d. Other costs incurred on account for factory overhead, $175,610; selling expenses, 4270,740; and administrative expenses, $160,980, Entry Description Debit Credit d. e. Prepaid expenses expired for factory overhead, $33,660; for selling expenses, $28,540; and for administrative expenses, $20,490. Entry Description Debit Credit 1. Depreciation of office building was $98,050; of office equipment, $49,760; and of factory equipment, $33,560, Entry Description Debit Credit 9. Factory overhead costs applied to jobs, $417,080. Entry Description Debit Credit g. h. Jobs completed, $965,870. Entry Description Debit Credit i. Cost of goods sold, $936,600. Entry Description Debit Credit