Job order cost; journal entries; ending work in process; inventory analysis LO_4,5 Camacho Company manufactures goods to special order and uses a job order cost system. During its first month of operations, the following selected transactions took place:

Required:
I. Prepare a schedule reflecting the cost of each of the four jobs.

2. Prepare journal entries to record the transactions. (One control account is used for Work in Process.)
3. Compute the ending balance in Work in Process.
4. Compute the ending balance in Finished Goods.

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a. Materials purchased on account. $37,000 b. Materials issued to the factory: Job 1066.. $2,200 Job 1215.. Job 1776. Job 1865. For general use in the factory c. Factory wages and salaries earned: Job 1066.. Job 1215..... Job 1776. 5,700 7,100 1,700 1,350 $2,700 6,800 9,200 Job 1865. 2,100 For general work in the factory. 2,250 d. Miscellaneous factory overhead costs on account $2.400 e. Depreciation of $2,000 on the factory machinery recorded. f. Factory overhead allocated as follows: Job 1066. $1,200 Job 1215..... 2,000 Job 1776..... 3,800 Job 1865... 1,000 & Jobs 1066, 1215, and 1776 completed. h. Jobs 1066 and 1215 shipped to the customer and billed at $30,900.