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, $2,540. b. Materials requisitioned and factory labor used: Job No. Materials Factory Labor 101 $2,930 $1,770 102 3,570 2,390 103 2,370 1,170 104 8,030 4,390 105 5,100 3,350 106 3,720 2,120 For general factory use 1,000 2,620 c. Factory overhead costs incurred on account, $5,600. d. Depreciation of machinery and equipment, $1,260. e. The factory overhead rate is $60 per machine hour. Machine hours used: Job No. Machine Hours 101 26 102 27 103 34 104 83 105 19 106 17 Total 206 f. Jobs completed: 101, 102, 103, and 105. g. Jobs were shipped and customers were billed as follows: Job 101, $7,510; Job 102, $9,100; Job 105, $16,180. Required: 1. Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank. Entries a. Materials Accounts Payable b. Work in Process Factory Overhead Description Debit Credit 2,540 2,540 4,700 Materials 2,930 Factory Overhead 1,770 C. Factory Overhead Accounts Payable d. Factory Overhead Accumulated Depreciation-Machinery and Equipment Work in Process d. Factory Overhead e. Accumulated Depreciation-Machinery and Equipment Work in Process Factory Overhead f. Finished Goods g. Work in Process Accounts Receivable Sale Sales 9. Cost Cost of Goods Sold 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. Bal. Work in Process Finished Goods Bal. 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Job Hildreth Company Schedule of Unfinished Jobs Direct Materials Direct Labor Factory Overhead $ $ $ $ Balance of Work in Process, April 30 $ Total 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account. Job Hildreth Company Schedule of Completed Jobs $ Direct Materials Direct Labor Factory Overhead $ $ $ Total