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, $3,130. b. Materlals requisitioned and factory labor used: Job No. Materials Factory Labor 101 $2,030 $2,460 3,000 102 2,740 103 1,990 1,340 104 6,740 5,030 4,280 105 3,840 106 3,120 2,440 For general factory use 840 3,000 c. Factory overhead costs incurred on account, $4,70o. d. Depreciation of machinery and equipment, $1,440. e. The factory overhead rate is $40 per machine hour. Machine hours used: Job No. Machine Hours 101 42 40 102 103 34 c. Factory overhead costs incurred on account, $4,700. d. Depreciation of machinery and equipment, $1,440. e. The factory overhead rate is $40 per machine hour. Machine hours used: Machine Hours Job No. 101 42 102 40 34 103 74 104 35 105 106 42 Total 267 f. Jobs completed: 101, 102, 103, and 105. g. Jobs were shipped and customers were billed as follows: Job 101, $7,400; Job 102, $8,810; Job 105, $13,600. 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 Materials v 3,130 a. Accounts Payable 3,130 Entries Description Debit Credit Materials V 3,130 a. Accounts Payable 3,130 b. Work in Process Factory Overhead Materials Wages Payable Factory Overhead 4,700 C. Accounts Paya ble 4,700 Factory Overhead 1,440 d. Accumulated Depreciation-Machinery and Equipment 1,440 Work in Process X e. Factory Overhead X Work in Process e Factory Overhead Finished Goods f. Work in Process g. Accounts Receivable Sale Sales q Cost of Goods Sold Cost Finished Goods 2. Post the appropriate entries to accounts for Work 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 (b) (f) (e) Bal. 2. Post the appropriate entries toT accounts for Work In Process and Finished Goods, using the ldentiry Ing Tetters as transaction codes. Insert memo account balances as of the end of the month. Work in Process (f) V (b) (e) Bal, Finished Goods (f) V (g) Bal Hildreth Company Schedule of Unfinished Jobs Direct Factory Job Direct Labor Total Materials Overhead No. 104 No. 106 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 Direct Factory Total Job Direct Labor Materials Overhead Finished Goods, April 30 (Job 103)