1. Journalize the transactions.

2. Prepare a table showing the total charges for each Job and in total.

3. Answer the following: (1) What is the balance of the work in process (2) What is the balance of the finished goods (3) What is the total cost of goods sold

4. Prepare the statement of cost of goods sold and determine the gross profit per job and in total.

Obj. 2 Kurtz Fencing Inc. uses a job order cost system. The following data summarize the operations related to production for March, the first month of operations: a. Materials purchased on account, $45,000. b. Materials requisitioned and factory labor used: Job Materials Factory Labor 301 302 303 304 305 306 For general factory use $1,850 3,150 2,200 1,800 4,230 1,770 1,200 $2,500 7,220 5,350 2,400 6,225 2,900 5,000 c. Factory overhead costs incurred on account, $1,800. d. Depreciation of machinery and equipment, $2,500. e. The factory overhead rate is $30 per machine hour. Machine hours used: Job Machine Hours 301 302 303 304 30 60 41 63 304 305 306 Total 63 70 36 300 f. Jobs completed: 301, 302, 303, and 305. g. Jobs were shipped and customers were billed as follows: Job 301, $8,500; Job 302, $16,150; Job 303, $13,400