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, $2,240. b. Materials requisitioned and factory labor used: Job No. Materials Factory Labor 101 $2,720 $2,480 $ 102 3,320 3,350 103 1,640 2,200 7,450 104 6,150 105 4,730 4,690 106 3,450 2,980 For general factory use 920 3,670 c. Factory overhead costs incurred on account, $5,200. d. Depreciation of machinery and equipment, $1,760. e. The factory overhead rate is $55 per machine hour. Machine hours used: Job No. Machine Hours 101 34 102 44 103 41 104 70 105 31 106 21 Total 241 f. Jobs completed: 101, 102, 103, and 105. 9. Jobs were shipped and customers were billed as follows: Job 101, $8,480; Job 102, $10,910; Job 105, $17,680. 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. Materials 2,240 Accounts Payable 2,240 . b. Work in Process Factory Overhead Materials Wages Payable . c. Factory Overhead 5,200 Accounts Payable 5,200 d. Factory Overhead 1,760 Accumulated Depreciation Machinery and Equipment 1,760 e. Work in Process 13,255 Factory Overhead 13,255 f. Finished Goods Work in Process g. Accounts Receivable g. Accounts Receivable Sale Sales g. Cost Cost of Goods Sold Finished Goods 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 (b) (0) le 13,255 Bal. Finished Goods (f) (9) Bal. 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 No. 104 No. 106 Balance of Work in Process, April 30 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 No. 104 S $ S No. 106 Balance of Work in Process, April 30 S 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 Finished Goods, April 30 (Job 103) Feedback