Chapter 16 Homework (Application) eBook Print Item Entries and Schedules for Unfinished Jobs and Completed Jobs 1. EX. 16-01 2. EX.16-02.ALGO 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, $2,360. b. Materials requisitioned and factory labor used: 3. EX. 16-04.ALGO 4. EX. 16-05.ALGO Job No. 5. EX. 16-06. ALGO 101 102 6. EX.16-08.ALGO 103 Materials $2,410 2,940 1,950 6,600 4,190 3,060 820 Factory Labor $3,290 4,440 2,170 8,160 6,220 3,950 4,870 7. EX. 16-09.ALGO 104 105 8. EX.16-10. ALGO 106 For general factory use 9. EX.16-12 ALGO 10. EX.16-14.ALGO c. Factory overhead costs incurred on account, $4,600. d. Depreciation of machinery and equipment. $2,340. e. The factory overhead rate is $45 per machine hour. Machine hours used: 11. EX.16-15.ALGO Job No. Machine Hours 12. PR. 16-01B.ALGO 101 38 13. PR. 16-02B ALGO 102 103 14. PR. 16-03A. ALGO .. 104 15. PR. 16-04A.ALGO 105 106 Total 223 f. Jobs completed: 101, 102, 103, and 105. g. Jobs were shipped and customers were billed as follows: Job 101, $8,890; Job 102, $11,230; Job 105, $14,300. 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 a. Materials 2,360 Accounts Payable 2,360 Check My Work 2 more Check My Work uses remaining. Previous Next Progress: 13/15 items Assignment Score: 72.94% All work saved. Save and Exit Submit Assignment for Grading Chapter 16 Homework (Application) eBook Print Item Sale 1. EX. 16-01 Sales 2. EX.16-02.ALGO g. Cost Cost of Goods Sold 3. EX. 16-04.ALGO Finished Goods 4. EX. 16-05.ALGO 5. EX. 16-06. ALGO 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 as of the end of the month. Work in Process (b) (e) 6. EX.16-08.ALGO 7. EX. 16-09.ALGO Bal. 8. EX.16-10. ALGO 9. EX. 16-12.ALGO Finished Goods 10. EX. 16-14. ALGO (f) (t (9) Bal. 11. EX.16-15.ALGO 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. 12. PR. 16-01B.ALGO 13. PR. 16-02B.ALGO Hildreth Company Schedule of Unfinished Jobs 14. PR. 16-03A. ALGO Job Direct Materials Direct Labor Factory Overhead Total 15. PR. 16-04A.ALGO $ No. 104 No. 106 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) , $ Previous Check My Work 2 more Check My Work uses remaining. Next Progress: 13/15 items Assignment Score: 72.94% Save and Exit Submit Assignment for Grading Chapter 16 Homework (Application) eBook Print Item Entries and Schedules for Unfinished Jobs and Completed Jobs 1. EX. 16-01 2. EX.16-02.ALGO 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, $2,360. b. Materials requisitioned and factory labor used: 3. EX. 16-04.ALGO 4. EX. 16-05.ALGO Job No. 5. EX. 16-06. ALGO 101 102 6. EX.16-08.ALGO 103 Materials $2,410 2,940 1,950 6,600 4,190 3,060 820 Factory Labor $3,290 4,440 2,170 8,160 6,220 3,950 4,870 7. EX. 16-09.ALGO 104 105 8. EX.16-10. ALGO 106 For general factory use 9. EX.16-12 ALGO 10. EX.16-14.ALGO c. Factory overhead costs incurred on account, $4,600. d. Depreciation of machinery and equipment. $2,340. e. The factory overhead rate is $45 per machine hour. Machine hours used: 11. EX.16-15.ALGO Job No. Machine Hours 12. PR. 16-01B.ALGO 101 38 13. PR. 16-02B ALGO 102 103 14. PR. 16-03A. ALGO .. 104 15. PR. 16-04A.ALGO 105 106 Total 223 f. Jobs completed: 101, 102, 103, and 105. g. Jobs were shipped and customers were billed as follows: Job 101, $8,890; Job 102, $11,230; Job 105, $14,300. 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 a. Materials 2,360 Accounts Payable 2,360 Check My Work 2 more Check My Work uses remaining. Previous Next Progress: 13/15 items Assignment Score: 72.94% All work saved. Save and Exit Submit Assignment for Grading Chapter 16 Homework (Application) eBook Print Item Sale 1. EX. 16-01 Sales 2. EX.16-02.ALGO g. Cost Cost of Goods Sold 3. EX. 16-04.ALGO Finished Goods 4. EX. 16-05.ALGO 5. EX. 16-06. ALGO 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 as of the end of the month. Work in Process (b) (e) 6. EX.16-08.ALGO 7. EX. 16-09.ALGO Bal. 8. EX.16-10. ALGO 9. EX. 16-12.ALGO Finished Goods 10. EX. 16-14. ALGO (f) (t (9) Bal. 11. EX.16-15.ALGO 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. 12. PR. 16-01B.ALGO 13. PR. 16-02B.ALGO Hildreth Company Schedule of Unfinished Jobs 14. PR. 16-03A. ALGO Job Direct Materials Direct Labor Factory Overhead Total 15. PR. 16-04A.ALGO $ No. 104 No. 106 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) , $ Previous Check My Work 2 more Check My Work uses remaining. Next Progress: 13/15 items Assignment Score: 72.94% Save and Exit Submit Assignment for Grading