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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 a. Materials purchased on account, $3,090. b. Materials requisitioned and factory labor used: Job No. Materials Factory Labor 101 102 103 $2,650 3,270 2,170 7,340 4,660 3,400 910 $3,160 4,270 2,090 7,840 5,970 3,790 104 105 106 For general factory use 4,680 C. Factory overhead costs incurred on account, $5,120. d. Depreciation of machinery and equipment, $2,240. e. The factory overhead rate is $60 per machine hour. Machine hours used: Job No. Machine Hours 101 102 Required: 1. Journalize the entries to record the summarized operations. If an amount box does not require an entry, leavet blank. Description Doble Credit Materials Accounts Payable 3,090 3,090 Work in Process 48,840 X Factory Overhead 5,590 Materials 24,430 x Wages Payable 24,740 Factory Overhead 5,120 Accounts Payable 5,120 Factory Overhead 5,120 x Accumulated Depreciation Machinery and Equipment 5,120 X Work in Process 14,640 Factory Overhead 14,640 Finished Goods 35,710 v Check My Work Emainstructor MacBook Air 2009OBQBE
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