Entries and Schedules for Unfinished Jobs and Completed Jobs Kaymer Industries Inc. uses a job order...

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Entries and Schedules for Unfinished Jobs and Completed Jobs Kaymer Industries Inc. uses a job order cost system. The following data summarize the operations related to production for January, the first month of operations: a. Materials purchased on account, $25,530. b. Materials requisitioned and factory labor used: 2. Post the appropriate entries to T accounts for Work in Process and Finished Goods, using the identifying letters as transaction codes. Insert memo account balances as of the end of the month. Work in Process Job 301 Materials Factory Labor $2,520 $1,720 302 3,070 2,320 303 2,040 1,140 304 6.900 4,270 305 4,380 3,250 306 3.200 For general factory use 860 2,060 2,550 c. Factory overhead costs incurred on account, $4,810. d. Depreciation f factory machinery and equipment, $1,220. e. The factory overhead rate is $50 per machine hour. Machine hours used: Machine Hours Job 301 38 302 36 303 27 304 65 305 29 306 23 Total 218 Bal. Finished Goods Bal. 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Kaymer Industries Inc. Schedule of Unfinished Jobs Job Direct Materials Direct Labor Factory Overhead Total Balance of Work in Process, January 30 f. Jobs completed: 301, 302, 303, and 305. g. Jobs were shipped and customers were billed as follows: Job 301, $7,370; Job 302, $8,630; Job 303, $13,140. Required: 1. Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave. it blank. 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account. Kaymer Industries Inc. Schedule of Completed Jobs Entries Description Debit Credit a. b. C. d. e. f. 9. Job Direct Materials Direct Labor Factory Overhead Total 2. Post the appropriate entries to T accounts for Work in Process and Finished Goods, using the identifying letters Entries and Schedules for Unfinished Jobs and Completed Jobs Kaymer Industries Inc. uses a job order cost system. The following data summarize the operations related to production for January, the first month of operations: a. Materials purchased on account, $25,530. b. Materials requisitioned and factory labor used: 2. Post the appropriate entries to T accounts for Work in Process and Finished Goods, using the identifying letters as transaction codes. Insert memo account balances as of the end of the month. Work in Process Job 301 Materials Factory Labor $2,520 $1,720 302 3,070 2,320 303 2,040 1,140 304 6.900 4,270 305 4,380 3,250 306 3.200 For general factory use 860 2,060 2,550 c. Factory overhead costs incurred on account, $4,810. d. Depreciation f factory machinery and equipment, $1,220. e. The factory overhead rate is $50 per machine hour. Machine hours used: Machine Hours Job 301 38 302 36 303 27 304 65 305 29 306 23 Total 218 Bal. Finished Goods Bal. 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Kaymer Industries Inc. Schedule of Unfinished Jobs Job Direct Materials Direct Labor Factory Overhead Total Balance of Work in Process, January 30 f. Jobs completed: 301, 302, 303, and 305. g. Jobs were shipped and customers were billed as follows: Job 301, $7,370; Job 302, $8,630; Job 303, $13,140. Required: 1. Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave. it blank. 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account. Kaymer Industries Inc. Schedule of Completed Jobs Entries Description Debit Credit a. b. C. d. e. f. 9. Job Direct Materials Direct Labor Factory Overhead Total 2. Post the appropriate entries to T accounts for Work in Process and Finished Goods, using the identifying letters