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, $147,000 b. Materials requisitioned and factory labor used: Job No. 101 102 103 104 105 106 For general factory use Materials $19,320 23,100 13,440 38,200 18,050 18,000 9,000 Factory Labor $19,500 28,140 14,000 36,500 15,540 18,700 20,160 c. Factory overhead costs incurred on account, $6,000 d. Depreciation of machinery and equipment, $4,100 e. The factory overhead rate is $40 per machine hour. Machine hours used: Machine Hours Job No. 101 102 103 104 105 106 Total 154 160 126 238 160 174 1,012 f. Jobs completed: 101, 102, 103, and 105. g. Jobs were shipped and customers were billed as follows: Job 101, $62,900; Job 102, $80,700; Job 105, $45,500. 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 b. d. f. 9. Sale g. Cost 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 Bal Finished Goods Bal 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Hildreth Company Schedule of Unfinished Jobs Materials Direct Labor Factory Overhead Direct Job Direct Labor Total Materials 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 Direct Factory Overhead Job Direct Labor Total Materials