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, $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

CHART OF ACCOUNTS
Munson Co.
General Ledger
ASSETS 110 Cash 121 Accounts Receivable 125 Notes Receivable 126 Interest Receivable 131 Materials 132 Work in Process 133 Factory Overhead 134 Finished Goods 141 Supplies 142 Prepaid Insurance 143 Prepaid Expenses 181 Office Building 191 Office Equipment 192 Accumulated Depreciation-Buildings and Equipment LIABILITIES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 236 Interest Payable 241 Lease Payable 251 Wages Payable 252 Consultant Fees Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 Income Summary	REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 520 Wages Expense 531 Selling Expenses 532 Insurance Expense 533 Utilities Expense 534 Office Supplies Expense 540 Administrative Expenses 561 Depreciation Expense-Office Building 562 Depreciation Expense-Office Equipment 590 Miscellaneous Expense 710 Interest Expense

Journalize the entries to record the summarized operations. Refer to the Chart of Accounts for exact wording of account titles.

All transactions on this page must be entered (except for post ref(s)) before you will receive Check My Work feedback.

PAGE 10

JOURNAL

ACCOUNTING EQUATION

Score: 3/322

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26

Journalize the entries to record the summarized operations. Refer to the Chart of Accounts for exact wording of account titles.