Velasco Co. uses a job order cost system. The following data summarize the operations related to production for July: a. Materials purchased on account, $764,070 b. Materials requisitioned, $641,820, of which $83,440 was for general factory use c. Factory labor used, $786,990, of which $149,530 was indirect d. Other costs incurred on account for factory overhead, $183,380; selling expenses, $282,710; and administrative expenses, $168,100 e. Prepaid expenses expired for factory overhead, s35,150; for selling expenses, $29,800; and for administrative expenses, $21,390 f. Depreciation of office building was $102,390; of office equipment, $51,960; and of factory equipment, $35,150 9. Factory overhead costs applied to jobs, $435,520 h. Jobs completed, $1,008,570 i. Cost of goods sold, $978,010 Required: Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank. Credit a. Materials purchased on account, $754,070. Entry Description Debit Materials Accounts Payable a. b. Materials requisitioned, $641,820, of which $83,440 was for general factory use. Entry Description Debit Credit b. Work in Process Factory Overhead Materials Credit c. Factory labor used, $786,990, of which $149,530 was indirect. Entry Description Debit Work in Process V Factory Overhead Wages Payable c. d. Other costs incurred on account for factory overhead, $183,380; selling expenses, $282,710; and administrative expenses, $168,100. Entry Description Debit Credit d. Factory Overhead Selling Expenses Administrative Expenses Accounts Payable e. Prepaid expenses expired for factory overhead, $35,150; for selling expenses, $29,800; and for administrative expenses, $21,390. Entry Description Debit Credit Factory Overhead Selling Expenses Administrative Expenses Prepaid Expenses f. Depreciation of office building was $102,390; of office equipment, $51,950; and of factory equipment, $35,150. Entry Debit Credit f. Description Depreciation Expense-Office Building Depreciation Expense-Office Equipment Factory Overhead Accumulated Depreciation Office Building Accumulated Depreciation Office Equipment Accumulated Depreciation-Factory Equipment g. Factory overhead costs applied to jobs, $435,520. Entry Description Debit Credit g. Work in Process Factory Overhead Debit Credit h. Jobs completed, $1,008,570. Entry Description h. Finished Goods Work in Process i. Cost of goods sold, $978,010. Entry Description Debit Credit i. Cost of Goods Sold Finished Goods