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, $2,560. b. Materials requisitioned and factory labor used: Job No. Materials Factory Labor 101 $2,510 $2,280 102 3,060 3,080 103 2,030 104 1,500 5,650 6,880 105 4,370 4,310 106 3,190 2.740 For general factory use 850 3,370 c. Factory overhead costs incurred on account, $4.790 d. Depreciation of machinery and equipment, $1,620 e. The factory overhead rate is $55 per machine hour. Machine hours used: Job No. Machine Hours 26 101 102 39 102 39 103 39 104 72 105 29 106 23 Total 228 f. Jobs completed: 101, 102, 103, and 105. 9. Jobs were shipped and customers were billed as follows: Job 101, $7,460; Job 102, $9,940; Job 105, $16,460. Required: 1. Journalize the entries to record the summarized operations. For a compound transaction, it an amount box does not require an entry, leave it blank. Entries Description Debit Credit a. Materials 2.560 Accounts Payable 2,560 Work in Process Factory Overhead Materials Wages Payable Next > C. Factory Overhead Accounts Payable 4,790 4,790 d. Factory Overhead Accumulated Depreciation Machinery and Equipment 1,620 1,620 Work in Process Factory Overhead f. Finished Goods Work in Process g. Sale II Accounts Receivable Sales 9. 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. In memo account balances as of the end of the month. Work in Process (b) (1) (e) Bal. Finished Goods (1) (0) Bal. D 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Hildreth company Schedule of unfinished lobs Job Direct Materials Direct Labor Factory Overhead Total No. 104 No. 105 Balance of Work in Process, April 30 Next O Beli 2 * VA . 207 PM 7/10 Bal. 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Schedule gioissie Direct Job Materials COM Diret labor Total No. 104 No. 105 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. deth company Schedule of completed Jobs Job Direct Materials Direct Labor Factory Overhead Total Finished Goods, April 30 (Job 103)