Answered step by step
Verified Expert Solution
Question
1 Approved Answer
8 Factory overhead Materials Wages Payable c. Factory Overhead Accounts Payable d. Factory Overhead Accumulated Depreciation-Machinery and Equipment e. Work in Process Factory Overhead f.
8
Factory overhead Materials Wages Payable c. Factory Overhead Accounts Payable d. Factory Overhead Accumulated Depreciation-Machinery and Equipment e. Work in Process Factory Overhead f. Finished Goods Work in Process g. Sale Accounts Receivable Sales g. Cost Cost of Goods Sold 3. Prepare a schedule of unfimished jobs to support the balance in the work in process account. Entries and Schedules for Unfinished Jobs and Completed Jobs Hildreth Company uses job order costing. The following data summarize the operations related to production for April, the first month of operations: a. Materials purchased on account, \\( \\$ 2,730 \\). b. Materials requisitioned and factory labor used: c. Factory overhead costs incurred on account, \\( \\$ 3,990 \\). d. Depreciation of machinery and equipment, \\( \\$ 2,020 \\). e. The factory overhead rate is \\( \\$ 50 \\) per machine hour. Machine hours used: 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account. f. Jobs completed: 101, 102, 103, and 105. g. Jobs were shipped and customers were billed as follows: Job 101, \\( \\$ 6,950 \\); Job 102, \\( \\$ 9,900 \\); Job 105, \\( \\$ 14,990 \\). Required: 1. Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started