Entries and Schedules for Unfinished Jobs and Completed Jobs

Hildreth Company uses ajob order cost system. The following data summarize the operations related to production for April, the first month of operations:

a. Materials purchased on account, $3,340.

b. Materials requisitionedand factory labor used:

Job No. MaterialsFactory Labor

101 $1,840 $1,720

102 2,240 2,320

103 1,490 1,140

104 5,040 4,270

105 3,200 3,250

106 2,340 2,060

For general factory use 630 2,550

c. Factory overhead costs incurred on account, $3,510.

d. Depreciation of machinery and equipment, $1,220.

e. The factory overhead rate is $60 per machine hour. Machine hours used:

Job No. Machine Hours

101 18

102 18

103 26

104 81

105 20

106 35

Total 198

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

g. Jobs were shipped and customers were billed as follows: Job 101, $5,570; Job 102, $6,770; Job 105, $12,150.

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.

g.

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 $4190