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: a. Materials purchased on account, $2,690. b. Materials requisitioned and factory labor used: Job 301 302 303 304 305 306 For general factory use Materials Factory Labor $3,200 4,320 2,110 7,940 6,050 3,840 4,740 $1,820 2,220 1,470 4,990 3,170 2,310 620 c. Factory overhead costs incurred on account, $3,480 d. Depreciation of machinery and equipment, $2,270. e. The factory overhead rate is $65 per machine hour. Machine hours used: Job 301 302 303 304 305 306 Total Machine Hours 37 24 36 82 27 239 f. Jobs completed: 301, 302, 303, and 305. g. Jobs were shipped and customers were billed as follows: Job 301, $8,910; Job 302, $9,720; Job 303, $17,170. Required: 1. Journalize the entries to record the summarized operations. For a compound tansaction, if an amount b does not require an entry, leave it blank. Debit Credit Description Entries 8:55 PM Entries Description Debit Credit b. d. 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 Bal. Finished Goods Bal. 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Tybee Industries Inc. Schedule of Unfinished Jobs Factory Direct Total Direct Labor lob Overhead Materials 8:55 PM Tybee Industries Inc. Schedule of Unfinished Jobs Direct Factory Direct Labor Job Total Materials Overhead Balance of Work in Process, January 30 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account. Tybee Industries Inc. Schedule of Completed Jobs Direct Factory Total Direct Labor Job Overhead Materials