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, $$1,900.$

b$.$ Materials requisitioned and factory labor used:

c$.$ Factory overhead costs incurred on account, $$5,630.$

d$.$ Depreciation of machinery and equipment, $$1,410.$

e$.$ The factory overhead rate is $$65$ per machine hour. Machine hours used: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, $$1,900.$

Materials requisitioned and factory labor used:

Job No$.$ Materials Factory Labor

$101$ $$2,950$ $$1,990$

$1023,6002,690$

$1032,3901,310$

$1048,0804,940$

$1055,1303,760$

$1063,7502,390$

For general factory use $1,0002,950$

Factory overhead costs incurred on account, $$5,630.$

Depreciation of machinery and equipment, $$1,410.$

The factory overhead rate is $$65$ per machine hour. Machine hours used:

Job No$.$ Machine Hours

$10130$

$10232$

$10323$

$10471$

$10527$

$10640$

Total $223$

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

Jobs were shipped and customers were billed as follows: Job $101,$ $$8,270$; Job $102,$ $$10,040$; Job $105,$ $$15,070.$

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$.$

fill in the blank $2$

fill in the blank $3$

fill in the blank $5$

fill in the blank $6$

b$.$

fill in the blank $8$

fill in the blank $9$

fill in the blank $11$

fill in the blank $12$

fill in the blank $14$

fill in the blank $15$

fill in the blank $17$

fill in the blank $18$

c$.$

fill in the blank $20$

fill in the blank $21$

fill in the blank $23$

fill in the blank $24$

d$.$

fill in the blank $26$

fill in the blank $27$

fill in the blank $29$

fill in the blank $30$

e$.$

fill in the blank $32$

fill in the blank $33$

fill in the blank $35$

fill in the blank $36$

f$.$

fill in the blank $38$

fill in the blank $39$

fill in the blank $41$

fill in the blank $42$

g$.$ Sale

fill in the blank $44$

fill in the blank $45$

fill in the blank $47$

fill in the blank $48$

g$.$ Cost

fill in the blank $50$

fill in the blank $51$

fill in the blank $53$

fill in the blank $54$

$2.$ 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

Transaction Debit amount Transaction Credit amount

fill in the blank $56$

fill in the blank $58$

fill in the blank $60$

Bal. fill in the blank $61$

Finished Goods

Transaction Debit amount Transaction Credit amount

fill in the blank $63$

fill in the blank $65$

Bal. fill in the blank $66$

$3.$ 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

$fill in the blank $68$

$fill in the blank $69$

$fill in the blank $70$

$fill in the blank $71$

fill in the blank $73$

fill in the blank $74$

fill in the blank $75$

fill in the blank $76$

Balance of Work in Process, April $30$ $fill in the blank $77$

$4.$ 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

$fill in the blank $79$

$fill in the blank $80$

$fill in the blank $81$

$fill in the blank $82$