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 Materials purchased on account, $3,180 Materials requisitioned and factory labor used Job No Materials Factory Labor 101 $2,610 $2,520 102 3,180 3,400 103 2,110 1,660 104 7,150 6,250 105 4,540 4,760 106 3,310 3,020 For general factory use 890 3,730 Factory overhead costs incurred on account, $4,990 Depreciation of machinery and equipment, $1,790 The factory overhead rate is $50 per machine hour Machine hours used Job No Machine Hours 101 24 102 18 103 27 104 73 105 21 106 22 Total 185 Jobs completed 101, 102, 103, and 105 Jobs were shipped and customers were billed as follows Job 101, $7,600 Job 102, $8,980 Job 105, $14,850 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 Accounts Payable b Work in Process Factory Overhead Materials Wages Payable c Factory Overhead Accounts Payable d Factory Overhead Accumulated Depreciation Machinery and Equipment e Work in Process Factory Overhead f Finished Goods Work in Process g Sale Accounts Receivable Sales g 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 (b) (f) (e) Bal Finished Goods (f) (g) 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 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) $ $ $ $

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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

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:

Materials purchased on account, $3,180.

Materials requisitioned and factory labor used:

Job No.	Materials	Factory Labor
101	$2,610	$2,520
102	3,180	3,400
103	2,110	1,660
104	7,150	6,250
105	4,540	4,760
106	3,310	3,020
For general factory use	890	3,730

Factory overhead costs incurred on account, $4,990.
Depreciation of machinery and equipment, $1,790.
The factory overhead rate is $50 per machine hour. Machine hours used:

Job No. Machine Hours

101 24

102 18

103 27

104 73

105 21

106 22

Total 185
Jobs completed: 101, 102, 103, and 105.
Jobs were shipped and customers were billed as follows: Job 101, $7,600; Job 102, $8,980; Job 105, $14,850.

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
	Accounts Payable

b.	Work in Process
	Factory Overhead
	Materials
	Wages Payable

c.	Factory Overhead
	Accounts Payable

d.	Factory Overhead
	Accumulated Depreciation-Machinery and Equipment

e.	Work in Process
	Factory Overhead

f.	Finished Goods
	Work in Process

g. Sale	Accounts Receivable
	Sales

g. 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.