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, \$2,520. b. Materials requisitioned and factory labor used: c. Factory overhead costs incurred on account, \$5,250. d. Depreciation of machinery and equipment, $1,480. e. The factory overhead rate is $45 per machine hour. Machine hours used: 1. Jobs completed 101,102,103, and 105 . 4. Jobs were thioped and custemers vere billed as follows: job 101, 16,710;106102,$8,650;306:105,$16,310. Reguired: 1. Joumalize the entries to fecord the summarived operations. If an amount box soes not reouire an entry, teave it bank. 1. Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank. \begin{tabular}{lrrr|} Entries & Description & Debit & Credit \\ \hline a. Materials & & 2,520 & \\ \hline Accounts Payable & & & \\ \hline \end{tabular} b. Work in Process c. Factory Overhead Materials Work in Process x Factory Overhead 3,080 d. Factory Overhead e. Factory Overhead X f. 0. Sale 27,865 3. Prepare a schedule of unfinished fobs to support the balance in the work in process accoont. 4. Pregare a schedule of comoleted jobs on hand to swpost the balance in the firliched goods account. 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account. Feedback Vheck My Vork 1 a 8 b. Materials are recorded in the Materials Inventory account until requisitioned. All direct costs: materials and labor are recorded in the Work in Process account. All indirect costs are considered overhead and are recorded in the Factory Overhead account. Overhead is applied to Work in Process using a predetermined overhead rate. The cost of completed jobs should be moved to the Finished Goods account. The cost of sold jobs should be moved to the Cost of Goods Sold account. 2. Post entries to the Work in Process T account and to the Finished Goods T account. 3. Include the direct materials, direct labor, and factory overhead for each unfinished job, 4. Include the direct materials, direct labor, and factory overhead for each finished job