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: Materials purchased on account, $2,290. Materials requisitioned and factory labor used:

Job	Materials		Factory Labor
301	$2,620		$2,050
302	3,200		2,770
303	2,120		1,350
304	7,180		5,080
305	4,560		3,870
306	3,330		2,460
For general factory use	890		3,030

Factory overhead costs incurred on account $5,000 depreciation of machinery and equipment $1,460 the factory overhead rate is $70 per machine hour. Machine hours used:

Job	Machine Hours
301		40
302		20
303		15
304		70
305		39
306		28
Total		212

jobs completed 301,302,303, and 305

jobs were chipped and customers were billed as follows: job 301 $ $8,960; Job 302, $8,840; Job 303, $13,110

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
a.	Materials
	Accounts Payable
b.	Work in Process
	Factory Overhead
	Materials
	Wages Payable
c.	Factory Overhead
	Accounts Payable
d.	Factory Overhead
	Accumulated Depreciation-Machinery and Equipment
e.	Work in Process
	Factory Overhead
f.	Finished Goods
	Work in Process
g.	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)		(f)
(e)
Bal.

Finished Goods
(f)		(g)
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
No. 304	$		$		$		$
No. 306
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
Job	Direct Materials		Direct Labor		Factory Overhead		Total
Finished Goods, January 30 (Job 305)	$		$		$		$