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Entries for Costs in a Job Order Cost System Munson Co. uses a job order cost system. The following data summarize the operations related to production for July: a. Materials purchased on account, $538,270 b. Materials requisitioned, $452,150, of which $58,780 was for general factory use c. Factory labor used, $554,420, of which $105,340 was indirect d. Other costs incurred on account for factory overhead, $129,180; selling expenses, $199,160; and administrative expenses, $118,420 e. Prepaid expenses expired for factory overhead, $24,760; for selling expenses, $20,990; and for administrative expenses, $15,070 f. Depreciation of office building was $72,130; of office equipment, $36,600; and of factory equipment, $24,760 g. Factory overhead costs applied to jobs, $306,810 h. Jobs completed, $710,520 i. Cost of goods sold, $688,990 Required: Journalize the entries to record the summarized operations. For a compound transaction, if an amount box does not require an entry, leave it blank. a. Materials purchased on account, $538,270 Entry Description Debit Credit Materials 538,270 Accounts Payable b. Materials requisitioned, $452,150, of which $58,780 was for general factory use Entry Description Debit Credit Work in Process Factory Overhead Materials c. Factory labor used, $554,420, of which $105,340 was indirect. Entry Description Debit Credit Work in Process Factory Overhead Wages PayableEntry Description Debit Credit Factory Overhead Selling Expenses Administrative Expenses Prepaid Expenses f. Depreciation of office building was $72,130; of office equipment, $36,600; and of factory equipment, $24,760 Entry Description Debit Credit Depreciation Expense-Office Building Depreciation Expense-Office Equipment Factory Overhead Accumulated Depreciation-Buildings and Equipment g. Factory overhead costs applied to jobs, $306,810 Entry Description Debit Credit Work in Process Factory Overhead h. Jobs completed, $710,520 Entry Description Debit Credit Finished Goods Work in Process i. Cost of goods sold, $688,990 Entry Description Debit Credit Cost of Goods Sold Finished Goods

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