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, $2,110. b. Materials requisitioned and factory labor used: Job No. Materials Factory Labor 101 $2,840 $1,930 102 3,460 2,610 103 2,300 1,270 104 7,780 4,790 105 4,940 3,650 106 3,610 2,320 For general factory use 970 2,860 c. Factory overhead costs incurred on account, $5,420. d. Depreciation of machinery and equipment, $1,370. e. The factory overhead rate is $45 per machine hour. Machine hours used: Job No. Machine Hours 101 41 102 19 103 24 104 69 105 27 106 20 20 Total 200 f. Jobs completed: 101, 102, 103, and 105. g. Jobs were shipped and customers were billed as follows: Job 101, $7,940; Job 102, $8,310; Job 105, $13,490. Required: 1. Journalize the entries to record the summarized operations. For a compound transaction, if an amount box does not require an entry, leave it blank. Entries a. Materials Accounts Payable Work in Process Factory Overhead Materials Wages Payable Description Factory Overhead Accounts Payable Factory Overhead Accumulated Depreciation-Machinery and Equipment Work in Process Factory Overhead Finished Goods Work in Process Debit Credit 910 910 f. Finished Goods Sale Work in Process Accounts Receivable Sales Cost of Goods Sold Cost 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) Bal. (1) Bal. Finished Goods (2) 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 < Hildreth Company Schedule of Unfinished Jobs Direct Job Direct Labor Materials 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 Factory Direct Labor Overhead Finished Goods, April 30 (Job 103) $ 2,300 $ 1,270 $ $ Total