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 April 2014, the first month of operations:

Materials purchased on account, $3,090.

Materials requisitioned and factory labor used:

Job	Materials		Factory Labor
No. 301	$2,860		$1,720
No. 302	3,490		2,320
No. 303	2,320		1,140
No. 304	7,840		4,270
No. 305	4,980		3,250
No. 306	3,630		2,060
For general factory use	970		2,550

Factory overhead costs incurred on account, $5,460.

Depreciation of machinery and equipment, $1,220.

The factory overhead rate is $35 per machine hour. Machine hours used:

Job	Machine Hours
No. 301	15
No. 302	33
No. 303	36
No. 304	74
No. 305	43
No. 306	29
Total	230

Jobs completed: 301, 302, 303, and 305.

Jobs were shipped and customers were billed as follows: Job 301, $6,130; Job 302, $8,360; Job 303, $13,690.

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 or enter "0".

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.