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:

Materials purchased on account, $2,270.

Materials requisitioned and factory labor used:

Job No.	Materials		Factory Labor
101	$3,240		$2,750
102	3,950		3,710
103	2,620		1,820
104	8,880		6,820
105	5,640		5,200
106	4,110		3,300
For general factory use	1,100		4,070

c.Factory overhead costs incurred on account, $6,190.

d.Depreciation of machinery and equipment, $1,950.

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

Job No.	Machine Hours
101		26
102		18
103		35
104		70
105		34
106		28
Total		211

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

g. Jobs were shipped and customers were billed as follows: Job 101, $9,220; Job 102, $10,600; Job 105, $19,470.

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.

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.

3. Prepare a schedule of unfinished jobs to support the balance in the work in process account.

4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account.