Entries and Schedules for Unfinished Jobs and Completed Jobs Staircase Equipment Company uses a job order cost system. The following data summarize the operations related to production for January 2016, the first month of operations: Materials purchased on account, $2,370. Materials requisitioned and factory labor used: Job Materials Factory Labor No. 301 $2,330 $2,690 No. 302 2,840 3,630 No. 303 1,890 1,780 No. 304 6,380 6,670 No. 305 4,050 5,080 No. 306 2,960 3,230 For general factory use 790 3,980 Factory overhead costs incurred on account, $4,450. Depreciation of machinery and equipment, $1,910. The factory overhead rate is $75 per machine hour. Machine hours used: Job Machine Hours No. 301 28 No. 302 42 No. 303 23 No. 304 83 No. 305 31 No. 306 16 Total 223 Jobs completed: 301, 302, 303, and 305. Jobs were shipped and customers were billed as follows: Job 301, $8,540; Job 302, $11,540; Job 303, $15,650. 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. Materials 2,370 Accounts Payable 2,370 b. Work in Process 43,530 Factory Overhead 4,770 Materials 21,240 Wages Payable 27,060 c. Factory Overhead 4,450 Accounts Payable 4,450 d. Factory Overhead 1,910 Accumulated Depreciation-Machinery and Equipment 1,910 e. Work in Process 16,725 Factory Overhead 16,725 f. Finished Goods Work in Process g. Accounts Receivable 35,730 Sales 35,730 Cost of Goods Sold Finished Goods