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, $2,250. b. Materials requisitioned and factory labor used: Job No. Materials Factory Labor 101 $2,780 $1,720 102 3,390 2,320 103 2,250 1,140 104 7,620 4,270 105 4,840 3,250 106 3,530 2,060 For general factory use 950 2,550 c. Factory overhead costs incurred on account, $5,310. d. Depreciation of machinery and equipment, $1,220. e. The factory overhead rate is $70 per machine hour, Machine hours used: Job No. Machine Hours 101 18 102 22 103 30 104 85 105 25 106 29 Total 209 f. Jobs completed: 101, 102, 103, and 105. g. Jobs were shipped and customers were billed as follows: Job 101, $6,910; Job 102, $8,700; Job 105, $15,920. 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 Required: JOD 105, $15,920. 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 Materials Accounts Payable b. Work in Process Factory Overhead Materials Wages Payable. Factory Overhead Accounts Payable d. Factory Overhead Description Accumulated Depreciation Machinery and Equipment Debit Credit 2,250 2,250 5,310 5,310 Accumulated Depreciation-Machinery and Equipment Work in Process Factory Overhead Finished Goods Work in Process g. Sale Accounts Receivable Sales g. Cost of Goods Sold Cost Finished Goods 4 2. Post the appropriate entries to T accounts for Work in Process and Finished Goods, using the identifying letters as transaction codes. Insert account balances as of the end of the month. (b) (e) Bal. Work in Process (f) (f) Finished Goods (g) Bal. 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 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 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 Total Overhead Good Abril 10 (Job 103) S Check My Work Previous