Instructions Chart of Accounts Journal Instructions Munson Co. uses a job order cost system. The following data summarize the operations related to production for July July 1 Materials purchased on account, $225,750 Materials requisitioned, $217,600, of which $17,600 was for general factory use 2 31 Factory labor used, $680,000, of which $72,300 was indirect Other costs incured on account for factory overhead, $330,000; selling expenses, $180,000, and 31 administrative expenses, $126,000 31 Prepaid expenses expired for factory overhead, $27,500, for selling expenses, $8,100; and for administrative expenses, $5,250 31 Depreciation of office building was $44,500; of office equipment, $16,800, and of factory equipment, $55,100 31 Factory overhead costs applied to jobs, $548,000 31 Jobs completed, $1,140,000 Cost of goods sold, $1,128,000 31 Jounalize the entries to record the summarized operations. Refer to the Chart of Accounts for exact wording of account titles Chart of Accounts Journal Instructions Chart of Accounts CHART OF ACCOUNTS Munson Co. General Ledger REVENUE ASSETS 410 Sales 110 Cash 610 Interest Revenue 121 Accounts Receivable 125 Notes Receivable EXPENSES 126 Interest Receivable 510 Cost of Goods Sold 131 Materials 520 Wages Expense 132 Work in Process 531 Selling Expenses 133 Factory Overhead 532 Insurance Expense 134 Finished Goods 533 Utlities Expense 141 Supplies 142 Prepaid Insurance 534 Office Supplies Expense 540 Administrative Expenses 143 Prepaid Expenses 181 Office Building 561 Depreciation Expense-Office Building 191 Office Equipment 562 Depreciation Expense-Office Equipment 192 Accumulated Deprecistion-Buildings and Equipment 590 Miscellaneous Expense 710 tnterest Expense LIABILITIES 210 Accounts Payable 221 Ublites Payable 231 Notes Peysble 236 Interest Paysble 241 Lease Payable 251 Wages Payable 252 Consultant Fees Paysble Chart of Accounts Journal Instructions Journal Journalize the entries to record the summarced operations Refer to the Chart of Accounts for exact wording of account ttles PAGE 10 JOURNAL ACCOUNTING EQUATION DrsCRPTION DATE POST, REP DESIT ASSETS CREDIT UABIUTIES EQUITY 1 2 CheckyW