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, $3,150. b. Materials requisitioned and factory labor used: Job No. Materials Factory Labor $1,740 101 102 103 104 105 106 $3,240 3,950 2,620 8,880 5,640 4,110 1,100 2,350 1,150 4,320 3,290 2,090 2,580 For general factory use c. Factory overhead costs incurred on account, $6,190. d. Depreciation of machinery and equipment, $1,240. e. The factory overhead rate is $60 per machine hour. Machine hours used: Job No. Machine Hours 101 102 103 104 105 106 Total 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. Materials 3,150 Accounts Payable 3,150 b. Work in Process Factory Overhead Materials 29,540 Wages Payable 17,520 Factory Overhead 6,190 Accounts Payable 6,190 d. 1,240 Factory Overhead Accumulated Depreciation-Machinery and Equipment 1,240 Work in Process Factory Overhead Finished Goods Work in Process e Work in Process Factory Overhead Finished Goods Work in Process g. Sale Accounts Receivable 32,260 Sales 32,260 Cost of Goods Sold Cost 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) (e) Bal. Finished Goods (9) (1) Ral Work in Process (f) (b) (e) Bal. Finished Goods (f) II (g) Bal. 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Hildreth Company Schedule of Unfinished Jobs Direct Job Direct Labor Factory Overhead Total Materials No. 104 $ No. 106 V 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