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.
2 Materials requisitioned, $217,600, of which $17,600 was for general factory use.
31 Factory labor used, $680,000, of which $72,300 was indirect.
31 Other costs incurred on account for factory overhead, $330,000; selling expenses, $180,000; and administrative expenses, $126,000.
31 Prepaid expenses expired for factory overhead were $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.
31 Cost of goods sold, $1,128,000.
Journalize the entries to record the summarized operations. Refer to the Chart of Accounts for exact wording of account titles.