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, $3,050.
2. Materials requisitioned and factory labor used:

   Job No.	Materials		Factory Labor
   101	$1,990		$3,140
   102	2,430		4,240
   103	1,610		2,070
   104	5,450		7,790
   105	3,460		5,930
   106	2,530		3,770
   For general factory use	680		4,650

3. Factory overhead costs incurred on account, $3,800.
4. Depreciation of machinery and equipment, $2,230.
5. The factory overhead rate is $55 per machine hour. Machine hours used:

   Job No.	Machine Hours
   101		37
   102		33
   103		32
   104		65
   105		19
   106		33
   Total		219

6. Jobs completed: 101, 102, 103, and 105.
7. Jobs were shipped and customers were billed as follows: Job 101, $8,600; Job 102, $10,180; Job 105, $15,780.

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
a.
b.
c.
d.
e.
f.
g. Sale
g. Cost

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
Bal.

Finished Goods
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
	$		$		$		$
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
Job	Direct Materials		Direct Labor		Factory Overhead		Total
	$		$		$		$