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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 opations: a. Materials purchased on account, $2,060. b. Materials requisitioned and factory labor used: c. Factory overhead costs incurred on account, $5,630. d. Depreciation of machinery and equipment, $1,510. e. The factory overhead rate is $50 per machine hour. Machine hours used: f. Jobs completed: 101,102,103, and 105. g. Jobs were shipped and customers were billed as follows: Job 101, $8,780; Job 102, $8,650; Job 105,$16,500. 1. Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank. g. Sale g. Cost Work in Process Finished Goods 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
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