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, $3,400. b. Materials requisitioned and factory labor used: Job No. Materials Factory Labor 101 $3,360 $2,830 102 4,100 103 2,720 9,210 104 3,820 1,870 7,020 5,350 3,400 105 5,850 106 4,270 1.140 For general factory use 4,190 c. Factory overhead costs incurred on account, $6,420. d. Depreciation of machinery and equipment, $2.010. e. The factory overhead rate is $50 per machine hour. Machine hours used: Job No. Machine Hours 101 32 102 43 1.4 e. The factory overhead rate is $50 per machine hour. Machine hours used: Job No. Machine Hours 101 32 102 41 103 44 104 71 105 34 106 Total 266 f. Jobs completed: 101, 102, 103, and 105. 9. Jobs were shipped and customers were billed as follows: Job 101, $9,350; Job 102, $11,960; Job 105, $19,690. 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 a. Materials 3,400 Accounts Payable 3,400 Work in Process b. Work in Process 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 Work in Process Factory Overhead E Finished Goods Work in Process Sale Accounts Receivable Sales 0. Cost Cost of Goods Sold 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 as of the end of the month Work in Process Bal. 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. TIR 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Hidreth company Schedule of Unfinished Jobs Job Direct Materials Direct Labor Factory Overhead Total Balance of Work in Process, April 30