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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

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, $3,030.
  2. Materials requisitioned and factory labor used:
    Job No. Materials Factory Labor
    101 $3,030 $1,810
    102 3,700 2,440
    103 2,450 1,190
    104 8,300 4,490
    105 5,270 3,420
    106 3,850 2,170
    For general factory use 1,030 2,680
  3. Factory overhead costs incurred on account, $5,790.
  4. Depreciation of machinery and equipment, $1,290.
  5. The factory overhead rate is $35 per machine hour. Machine hours used:
    Job No. Machine Hours
    101 31
    102 33
    103 21
    104 77
    105 15
    106 44
    Total 221
  6. Jobs completed: 101, 102, 103, and 105.
  7. Jobs were shipped and customers were billed as follows: Job 101, $7,110; Job 102, $8,750; Job 105, $12,690.

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
fill in the blank 56 fill in the blank 58
fill in the blank 60
Bal. fill in the blank 61

Finished Goods
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

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