Entries and Schedules for Unfinished Jobs and Completed Jobs

Tybee Industries Inc. uses a job order cost system. The following data summarize the operations related to production for January, the first month of operations:

1. Materials purchased on account, $1,890.
2. Materials requisitioned and factory labor used:

   Job	Materials		Factory Labor
   301	$2,880		$2,200
   302	3,510		2,970
   303	2,330		1,450
   304	7,890		5,460
   305	5,010		4,160
   306	3,660		2,640
   For general factory use	980		3,260

3. Factory overhead costs incurred on account, $5,500.
4. Depreciation of machinery and equipment, $1,560.
5. The factory overhead rate is $40 per machine hour. Machine hours used:

   Job	Machine Hours
   301		22
   302		34
   303		30
   304		72
   305		25
   306		24
   Total		207

6. Jobs completed: 301, 302, 303, and 305.
7. Jobs were shipped and customers were billed as follows: Job 301, $7,150; Job 302, $9,410; Job 303, $14,440.

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 Credit Debit 1,890 a. Materials Accounts Payable 1,890 b. Work in Process Factory Overhead Materials Wages Payable Factory Overhead Accounts Payable d. Factory Overhead Accumulated Depreciation-Machinery and Equipment Work in Process Factory Overhead Finished Goods Work in Process g. Accounts Receivable Sales Cost of Goods Sold Finished Goods