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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
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: Materials purchased on account, $ Materials requisitioned and factory labor used: Job No Materials Factory Labor $ $ For general factory use Factory overhead costs incurred on account, $ Depreciation of machinery and equipment, $ The factory overhead rate is $ per machine hour. Machine hours used: Job No Machine Hours Total Jobs completed: and Jobs were shipped and customers were billed as follows: Job $; Job $; Job $ Required: Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank. 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. Transaction Debit amount Transaction Credit amount abcdfgb fill in the blank abcdefgf fill in the blank acdefge fill in the blank Bal. fill in the blank Transaction Debit amount Transaction Credit amount abcdefgf fill in the blank abcdefgg fill in the blank Bal. fill in the blank Prepare a schedule of unfinished jobs to support the balance in the work in process account. Job Direct Materials Direct Labor Factory Overhead Total NoNoNoNoNoNo $ fill in the blank $ fill in the blank $ fill in the blank $ fill in the blank NoNoNoNoNoNo fill in the blank fill in the blank fill in the blank fill in the blank Balance of Work in Process, April $ fill in the blank Prepare a schedule of completed jobs on hand to support the balance in the finished goods account. Job Direct Materials Direct Labor Factory Overhead Total Finished Goods, April Job Finished Goods, April Job Finished Goods, April Job Finished Goods, April Job $ fill in the blank $ fill in the blank $ fill in the blank $ fill in the blank
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:
Materials purchased on account, $
Materials requisitioned and factory labor used:
Job No
Materials
Factory Labor
$
$
For general factory use
Factory overhead costs incurred on account, $
Depreciation of machinery and equipment, $
The factory overhead rate is $ per machine hour. Machine hours used:
Job No
Machine Hours
Total
Jobs completed: and
Jobs were shipped and customers were billed as follows: Job $; Job $; Job $
Required:
Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank.
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.
Transaction
Debit amount
Transaction
Credit amount
abcdfgb
fill in the blank
abcdefgf
fill in the blank
acdefge
fill in the blank
Bal.
fill in the blank
Transaction
Debit amount
Transaction
Credit amount
abcdefgf
fill in the blank
abcdefgg
fill in the blank
Bal.
fill in the blank
Prepare a schedule of unfinished jobs to support the balance in the work in process account.
Job
Direct
Materials
Direct
Labor
Factory
Overhead
Total
NoNoNoNoNoNo
$
fill in the blank
$
fill in the blank
$
fill in the blank
$
fill in the blank
NoNoNoNoNoNo
fill in the blank
fill in the blank
fill in the blank
fill in the blank
Balance of Work in Process, April
$
fill in the blank
Prepare a schedule of completed jobs on hand to support the balance in the finished goods account.
Job
Direct Materials
Direct Labor
Factory
Overhead
Total
Finished Goods, April Job Finished Goods, April Job Finished Goods, April Job Finished Goods, April Job
$
fill in the blank
$
fill in the blank
$
fill in the blank
$
fill in the blank
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