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: a. Materials purchased on account, $3,000. b. Materials requisitioned and factory labor used: Materials Factory Labor $2,410 $2,370 2,890 1,920 3,250 Job No. 301 No. 302 No. 303 No. 304 No. 305 No. 306 For general factory use 1,590 5,980 6,490 4,120 3,010 4,550 2,890 3,570 810 c. Factory overhead costs incurred on account, $4,530. d. Depreciation of machinery and equipment, $1,710. e. The factory overhead rate is $45 per machine hour. Machine hours used: Machine Hours Job No. 301 No. 302 E Chapter 19 Problems Job Machine Hours No. 301 No. 302 No. 303 No. 304 No. 305 No. 306 Total 226 f. Jobs completed: 301, 302, 303, and 305. g. Jobs were shipped and customers were billed as follows: Job 301, $8,110; Job 302, $9,370; Job 303, $12,270. 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. Description Debit Credit Entries Materials 3,000 Accounts Payable 3,000 Work in Process Factory Overhead Check My Work Chapter 19 Problems b. Work in Process Factory Overhead Materials Wages Payable C. Factory Overhead Accounts Payable Factory Overhead Accumulated Depreciation Machinery and Equipment Work in Process Factory Overhead Finished Goods Work in Process Accounts Receivable Check My Work Previous vecengagenow.com Chapter 19 Problems Finished Goods Work in Process Accounts Receivable Sales Cost of Goods Sold 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) (1) Finished Goods (9) Bal