u XYZ company uses a job order cost system. The following data summarize the operations related to production in July. Assume $0 starting balances. 1. Materials purchased for cash, $700,000 2. Materials requisitioned and factory labor U580: Job Materials Factory Labor 601 $35,100 $25,000 502 $35,000 $39,500 603 $35,050 $15,?00 606r $62,500 $40,000 For General Factory Use $1600 $35,000 3. Factory overhead costs incurred on account $30,000 4. Depreciation of machinery and equipment $20,000 5. The predetermined factory overhead rate is $2100 per machine hour. Machine hours used are: Job 601: 230 MH 602: 250 MH 603: 165 MH 504i 280 MH 6. Jobs completed are 601, 602, 603 1". Jobs were shipped and customers were billed as follows; 601: $500,000 502'. $430,000