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:

Materials purchased on account, $2,830.

Materials requisitioned and factory labor used:

Job No.	Materials	Factory Labor
101	$1,820	$2,760
102	2,220	3,730
103	1,470	1,820
104	4,990	6,840
105	3,170	5,220
106	2,310	3,310
For general factory use	620	4,080

Factory overhead costs incurred on account, $3,480.

Depreciation of machinery and equipment, $1,960.

The factory overhead rate is $75 per machine hour. Machine hours used:

Job No.	Machine Hours
101	24
102	19
103	22
104	78
105	45
106	31
Total	219

Jobs completed: 101, 102, 103, and 105.

Jobs were shipped and customers were billed as follows: Job 101, $7,660; Job 102, $8,850; Job 105, $14,330.

Required:

1. Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank.

Entries	Description	Debit	Credit
a.
b.
c.
d.
e.
f.
g. 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

Transaction	Debit amount	Transaction	Credit amount
	fill in the blank 56
	fill in the blank 60
Bal.	fill in the blank 61

Finished Goods

Transaction	Debit amount	Transaction	Credit amount
(a)(b)(c)(d)(e)(f)(g)	fill in the blank 63	(a)(b)(c)(d)(e)(f)(g)	fill in the blank 65
Bal.	fill in the blank 66

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
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	Direct Labor	Factory Overhead	Total