Calculator Entries and Schedules for Unfinished Jobs and Completed Jobs Hildreth Company uses a job order cost system. The following data summarize the operations related to production for April, the first month of operations a. Materials purchased on account, $3,350. b. Materials requisitioned and factory labor used Job No. Materials Factory Labor 101 102 103 104 $1,830 2.230 1,480 5,010 3,180 2,320 620 $2,130 2,880 1,410 5,280 4,030 2,560 3,150 105 106 For general factory use c. Factory overhead costs incurred on account, $3,500 d. Depreciation of machinery and equipment, $1,510. e. The factory overhead rate is $70 per machine hour. Machine hours used: Job No 101 102 103 104 105 106 Total Machine Hours 38 16 37 82 20 19 212 f. Jobs completed: 101, 102, 103, and 105. 9. Jobs were shipped and customers were billed as follows: Job 101, $7,940; Job 102, $7,480; Job 105, $15,890. Required: 1. Journalize the entries to record the summarized operations. For a compound transaction, if an amount box does not require an entry, leave it blank. Entries Calculator eBook f. Jobs completed: 101, 102, 103, and 105. g. Jobs were shipped and customers were billed as follows: Job 101, $7,940; Job 102, $7,480; Job 105, $15,890. Required: 1. Journalize the entries to record the summarized operations. For a compound transaction, if an amount box does not require an entry, leave it blank. Entries Description Debit Credit Materials v 3,350 V Accounts Payable v 3,350 v Work in Process v Factory Overhead v Materials v Wages Payable V Factory Overhead v Accounts Payable Factory Overhead Accumulated Depreciation Machinery and Equipment e. Work in Process V Factory Overhead Finished Goods V Work in Process v Accounts Receivable V Sale Sales v Check My Work Cost Finished Goods 2. Post the appropriate entries to t laccounts 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 Bal. Finished Goods Bal. 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Hildreth Company Schedule of Unfinished Jobs Direct Direct Labor overhead Materials Factory Job Total Balance of Work in Process, April 30 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account Hildreth Company Schedule of Completed Jobs Direct Job Total Materials Direct Labor Factory