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, $3,330. b. Materials requisitioned and factory labor used: Job Materials Factory Labor 301 $2,490 $1,900 302 3,040 2,570 303 2,020 1,250 304 6,820 4,710 305 4,330 3,590 306 3,160 2,280 For general factory use 850 2,810 c. Factory overhead costs incurred on account, $4,760. d. Depreciation of machinery and equipment, $1,350. e. The factory overhead rate is $35 per machine hour. Machine hours used: Job Machine Hours 301 22 302 21 Job Machine Hours 22 301 302 21 303 30 304 78 305 38 306 15 Total 204 f. Jobs completed: 301, 302, 303, and 305. g. Jobs were shipped and customers were billed as follows: Job 301, $6,190; Job 302, $7,610; Job 303, $12,530. 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 b. Entries Description Debit Credit b. 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 Job Direct Materials Direct Labor Factory Overhead Total $ $ 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 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Tybee Industries Inc. Schedule of Unfinished Jobs Direct Job Direct Labor Factory Overhead Total Materials $ 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 Job Direct Labor Factory Overhead Total Materials 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, $3,330. b. Materials requisitioned and factory labor used: Job Materials Factory Labor 301 $2,490 $1,900 302 3,040 2,570 303 2,020 1,250 304 6,820 4,710 305 4,330 3,590 306 3,160 2,280 For general factory use 850 2,810 c. Factory overhead costs incurred on account, $4,760. d. Depreciation of machinery and equipment, $1,350. e. The factory overhead rate is $35 per machine hour. Machine hours used: Job Machine Hours 301 22 302 21 Job Machine Hours 22 301 302 21 303 30 304 78 305 38 306 15 Total 204 f. Jobs completed: 301, 302, 303, and 305. g. Jobs were shipped and customers were billed as follows: Job 301, $6,190; Job 302, $7,610; Job 303, $12,530. 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 b. Entries Description Debit Credit b. 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 Job Direct Materials Direct Labor Factory Overhead Total $ $ 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 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Tybee Industries Inc. Schedule of Unfinished Jobs Direct Job Direct Labor Factory Overhead Total Materials $ 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 Job Direct Labor Factory Overhead Total Materials