Ch 16 Homework eBook Calculator Hildreth Company uses a job order cost system. The following data summarure the operations related to production for April, the first month of operations a. Materials purchased on account, $2,100 b. Materials requisitioned and factory labor used: Job No. Materials Factory Labor 101 $2,400 102 $3,240 4,370 2,930 103 2,140 104 1,940 6,580 8,040 105 4,180 6,120 3,890 106 For generat factory use 3,050 820 4,800 > c. Factory overhead costs incurred on account, $4,580. d. Depreciation of machinery and equipment, $2,300 e. The factory overhead rate is $70 per machine hour. Machine hours used: Machine Hours 101 25 Job No. 102 21 103 22 104 69 105 17 Ch 16 Homework eBook Calculator 106 45 Total 199 1. Jobs completed: 101, 102, 103, and 105. 9. Jobs were shipped and customers were billed as follows: Job 101, 58,870; Job 102, $10,520; Job 105, 516,300, Required: 1. Journalize the entries to record the summarized operations. It an amount box does not require an entry, leave it blank. Description Debit Credit Entries Materials Accounts Payable a 2,100 2,100 b. Work in Process Factory Overhead Materials Wages Payable Factory Overhead 4,580 Accounts Payable 4,580 Check My Work Previous Ch 16 Homework eBook Calculator Factory Overhead 2,300 Accumulated Depreciation Machinery and Equipment 2,300 70 X Work in Process Factory Overhead 70 X 11,450 X Finished Goods Work in Process 11,450 X Accounts Receivable Sale Sales Cost of Goods Sold Cost Finished Goods 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 a the end of the month. Ch 16 Homework Book Calculator (b) Work in Process (b) X (d) x Bal Finished Goods (e) X (c) X Bal 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account Hildruth Company Schedule of Unfinished Jobs Job Direct Materials Direct Labor Factory Overhead Total No. 102 X $ $ $ No. 103 X Balance of Work in Process, April 30 Check My Work Previou Job Direct Materials Direct Labor Factory Overhead Total No. 102 X $ $ No. 103 X 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 Job Direct Materials Direct Labor Factory Overhead Total Finished Goods, April 30 (Job 103) $ $ $ $ Check My Work