eBook Entries and Schedules for Unfinished Jobs and Completed Jobs Hildreth Company uses a job order cost system. The following data summanize the operations related to production for April, the first month of operations: a. Materials purchased on account, $2,250. b. Materials requisitioned and factory labor used: Job No. Materials 101 102 103 $2,420 2,950 1,960 6,630 4,210 Factory Labor $2,150 2,900 1,420 5,330 4,060 2,580 104 105 106 For general factory use 3,070 820 3,180 c. Factory overhead costs incurred on account, $4,620. d. Depreciation of machinery and equipment, $1,530. e. The factory overhead rate is $50 per machine hour. Machine hours used Job No. Machine Hours 101 24 102 43 103 28 104 81 105 21 106 33 Total 230 1. Jobs completed: 101, 102, 103, and 105. 9. Jobs were shipped and customers were billed as follows: Job 101, $6,920; Job 102, 59,600, Job 105, 513,860. Required: 1. Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank Entries Description Debit Credit Materials 2,250 Accounts Payable . 2,250 b Work in Process 21,240 X Factory Overhead Materials Wages Payable Factory Overhead Accounts Payable d Factory Overhead Accumulated Depreciation Machinery and equipment Work in Process Factory Overhead Finished Goods Work in Process 0 Sale Accounts Receivable Sales 9 Cost Cost of Goods Sold 2. Post the appropriate entries to accounts for Work in Process and Finished Goods, using the identifying letters as transaction codes. Insert men 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 Job Direct Materials Direct Labor Factory Overhead 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 Job Direct Materials Direct Labor Factory Overhead Total 5