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: a. Materials purchased on account, $3,350. b. Materials requISItioned and factory labor used: Job No. Materials Factory Labor 101 $2,560 $1,800 102 3,120 2,430 103 2,070 1,190 104 7,010 4,460 105 4,450 3,400 106 3,250 2,160 For general factory use 870 2,660 c. Factory overhead costs incurred on account, $4,890. d. Depreciation of machinery and equipment, $1,280. e. The factory overhead rate is $35 per machine hour. Machine hours used: Job No. Machine Hours 101 31 102 21 103 44 104 69 105 43 106 16 106 16 Total 224 f. Jobs completed: 101, 102, 103, and 105. g. Jobs were shipped and customers were billed as follows: Job 101, $6,530; Job 102, $7,540; Job 105, $13,920. 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 Materials 3,350 V Accounts Payable 3,350 b. Work in Process 37,900 Factory Overhead 3,530 Materials 23,330 Wages Payable IV 18,100 C. Factory Overhead 4,890 Accounts Payable 4,890 d. Factory Overhead 1,280 Accumulated Depreciation-Machinery and Equipment V 1,280e. Work in Process v J Factor! Overhead V J f. Finished Goods v J Work in Process V J 9, Sale Accounts Receivable v J Sales V J 9, Cost Cost of Goods Sold v J Finished Goods V v/ 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 Finished Goods [:1 - :1 [:1 :1 - :1 :1 7,840 V/ I Hi HI HIE 7,840