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:

1. Materials purchased on account, $1,990.
2. Materials requisitionedand factory labor used:
4. Job No.MaterialsFactory Labor101$2,680$2,8301023,2703,8201032,1701,8701047,3407,0201054,6605,3501063,4003,400For general factory use9104,190
5. Factory overhead costs incurred on account, $5,120.
6. Depreciation of machinery and equipment, $2,010.
7. The factory overhead rate is $75 per machine hour. Machine hours used:
9. Job No.Machine Hours101301021710342104851052210640Total236
10. Jobs completed: 101, 102, 103, and 105.
11. Jobs were shipped and customers were billed as follows: Job 101, $9,310; Job 102, $10,040; Job 105, $20,850.

Required:

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

EntriesDescriptionDebitCredita.Materials

Accounts Payable

b.Work in Process

Factory Overhead

Materials

Wages Payable

c.Factory Overhead

Accounts Payable

d.Cash

Accumulated Depreciation-Machinery and Equipment

e.Work in Process

Factory Overhead

f.Finished Goods

Work in Process

g. SaleAccounts Receivable

Sales

g. CostCost of Goods Sold

Finished Goods