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:

1. Materials purchased on account, $3,140.
2. Materials requisitioned and factory labor used:

   Job No.	Materials		Factory Labor
   101	$2,710		$2,710
   102	3,310		3,660
   103	2,200		1,790
   104	7,430		6,720
   105	4,720		5,120
   106	3,440		3,250
   For general factory use	920		4,010

3. Factory overhead costs incurred on account, $5,180.
4. Depreciation of machinery and equipment, $1,920.
5. The factory overhead rate is $55 per machine hour. Machine hours used:

   Job No.	Machine Hours
   101		25
   102		23
   103		21
   104		73
   105		41
   106		31
   Total		214

6. Jobs completed: 101, 102, 103, and 105.
7. Jobs were shipped and customers were billed as follows: Job 101, $8,150; Job 102, $9,880; Job 105, $14,920.

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	Description	Debit	Credit
a.	Accounts PayableCashFactory OverheadFinished GoodsMaterialsWork in ProcessMaterials	fill in the blank 2
	Accounts PayableCashFactory OverheadFinished GoodsMaterialsWork in ProcessAccounts Payable		fill in the blank 4
b.	Accounts PayableCashCost of Goods SoldMaterialsWages PayableWork in ProcessWork in Process	fill in the blank 6	fill in the blank 7
	Accounts PayableAccounts ReceivableCashFactory OverheadMaterialsWages PayableFactory Overhead	fill in the blank 9	fill in the blank 10
	Accounts PayableAccounts ReceivableCashFactory OverheadMaterialsWork in ProcessMaterials	fill in the blank 12	fill in the blank 13
	Accounts PayableCost of Goods SoldFactory OverheadFinished GoodsWork in ProcessWages PayableWages Payable	fill in the blank 15	fill in the blank 16
c.	Accounts PayableCashCost of Goods SoldFactory OverheadMaterialsWork in ProcessFactory Overhead	fill in the blank 18
	Accounts PayableCashCost of Goods SoldFactory OverheadMaterialsWork in ProcessAccounts Payable		fill in the blank 20
d.	Accounts PayableAccumulated Depreciation-Machinery and EquipmentCashCost of Goods SoldFactory OverheadWork in ProcessFactory Overhead	fill in the blank 22
	Accounts PayableAccumulated Depreciation-Machinery and EquipmentCashFactory OverheadFinished GoodsWork in ProcessAccumulated Depreciation-Machinery and Equipment		fill in the blank 24
e.	Accounts PayableAccounts ReceivableCashFactory OverheadFinished GoodsWork in ProcessWork in Process	fill in the blank 26
	Accounts PayableCashFactory OverheadFinished GoodsMaterialsWork in ProcessFactory Overhead		fill in the blank 28
f.	Accounts PayableAccounts ReceivableCashFactory OverheadFinished GoodsWork in ProcessFinished Goods	fill in the blank 30
	Accounts PayableCashFactory OverheadFinished GoodsMaterialsWork in ProcessWork in Process		fill in the blank 32
g. Sale	Accounts ReceivableCashFactory OverheadFinished GoodsSalesWork in ProcessAccounts Receivable	fill in the blank 34
	Accounts ReceivableCashFactory OverheadFinished GoodsSalesWork in ProcessSales		fill in the blank 36
g. Cost	Accounts ReceivableCost of Goods SoldFactory OverheadFinished GoodsSalesWork in ProcessCost of Goods Sold	fill in the blank 38
	Accounts ReceivableCost of Goods SoldFactory OverheadFinished GoodsSalesWork in ProcessFinished Goods		fill in the blank 40

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
(a)(b)(c)(d)(f)(g)(b)	fill in the blank 42	(a)(b)(c)(d)(e)(f)(g)(f)	fill in the blank 44
(a)(c)(d)(e)(f)(g)(e)	fill in the blank 46
Bal.	fill in the blank 47

Finished Goods
(a)(b)(c)(d)(e)(f)(g)(f)	fill in the blank 49	(a)(b)(c)(d)(e)(f)(g)(g)	fill in the blank 51
Bal.	fill in the blank 52

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. 101No. 102No. 103No. 104No. 105No. 104	$	fill in the blank 54	$	fill in the blank 55	$	fill in the blank 56	$	fill in the blank 57
No. 101No. 102No. 103No. 105No. 106No. 106		fill in the blank 59		fill in the blank 60		fill in the blank 61		fill in the blank 62
Balance of Work in Process, April 30							$	fill in the blank 63

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)Finished Goods, April 30 (Job 105)Finished Goods, April 30 (Job 106)Finished Goods, April 30 (Job 103)	$	fill in the blank 65	$	fill in the blank 66	$	fill in the blank 67	$	fill in the blank 68