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, $2,520.
2. Materials requisitioned and factory labor used:

(b) 20,730 (6) Entries and Schedules for Unfinished Jobs and Completed Jobs 133,936 (e) 11,385 Bal. 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, $2,520. b. Materials requisitioned and factory labor used: 48,925 Job Materials Factory Labor Finished Goods 301 $2,360 $1,960 302 2,880 2,650 Bal. 303 1,910 1,290 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. 304 6,470 4,860 305 4,110 3,700 Tybee Industries Inc. Schedule of Unfinished Jobs 306 3,000 2,350 For general factory use 800 2,900 Job Direct Materials Direct Labor Factory Overhead Total C. Factory overhead costs incurred on account, $4,510. d. Depreciation of machinery and equipment, $1,390. e. The factory overhead rate is $55 per machine hour. Machine hours used: Job Machine Hours Balance of Work in Process, January 30 301 34 302 16 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods accou 303 31 304 65 305 45 Tybee Industries Inc. Schedule of Completed Jobs 306 16 Total 207 Job Direct Materials Direct Labor Factory Overhead Total f. Jobs completed: 301, 302, 303, and 305. g. Jobs were shipped and customers were billed as follows: Job 301, $7,430; Job 302, $7,690; Job 303, $14,220. Required