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:

1. Materials purchased on account, $3,320.
2. Materials requisitioned and factory labor used:

   Job No.	Materials		Factory Labor
   101	$2,300		$3,280
   102	2,810		4,430
   103	1,860		2,160
   104	6,300		8,130
   105	4,000		6,200
   106	2,920		3,940
   For general factory use	780		4,850

3. Factory overhead costs incurred on account, $4,390.
4. Depreciation of machinery and equipment, $2,330.
5. The factory overhead rate is $70 per machine hour. Machine hours used:

   Job No.	Machine Hours
   101		21
   102		21
   103		36
   104		65
   105		17
   106		29
   Total		189

6. Jobs completed: 101, 102, 103, and 105.
7. Jobs were shipped and customers were billed as follows: Job 101, $8,460; Job 102, $10,450; Job 105, $18,970.

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.

Entries	Description	Debit	Credit
a.
b.
c.
d.
e.
f.
g. Sale
g. Cost

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.

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
	$		$		$		$
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
Job	Direct Materials		Direct Labor		Factory Overhead		Total
	$		$		$		$