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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, $2,300.

B.Materials requisitioned and factory labor used:

Job No.MaterialsFactory Labor101$2,450$2,6001022,9903,5101031,9801,7201046,7106,4501054,2604,9101063,1103,120For general factory use8303,850

C.Factory overhead costs incurred on account, $4,680.

D.Depreciation of machinery and equipment, $1,850.

E.The factory overhead rate is $70 per machine hour. Machine hours used:

Job No.Machine Hours101421023410325104751053910633Total248

F.Jobs completed: 101, 102, 103, and 105.

G.Jobs were shipped and customers were billed as follows: Job 101, $9,590; Job 102, $10,660; Job 105, $15,810.

1. Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank.
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.
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.