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, $3,010 b. Materials requisitioned and factory labor used Factory Materials Labor Job 301 302 303 304 305 306 $3,350 $3,180 4,290 2,100 7,890 6,010 3,820 For general factory 1,140 4,710 4,090 2,710 9,180 5,830 4,250 c. Factory overhead costs incurred on d. Depreciation of machinery and equipment, $2,260 e. The factory overhead rate is $45 per machine hour. Machine hours used: $6,400 Job Machine Hours 301 302 303 304 305 306 Total 40 21 67 39 27 216 f. Jobs completed: 301, 302, 303, and 305 g. Jobs were shipped and customers were billed as follows: Job 301, $9,020; Job 302, $12,220; Job 303, $16,690 Required 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. ntries Description Debit Credit Materials Accounts Payable v Work in Process v Factory Overhead Materials Wages Payable v Factory Overhead Accounts Payable Factory Overhead Accumulated Depreciation-Machinery and Equipment Work in Process Factory Overhead Finished Goods Work in Process Accounts Receivablev Sales v 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 (a)x (e) x Bal Finished Goods Bal. 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. dustries Inc. Schedule of Unfinished Jobs Direct DirectFactory Materials Labor Overhead Job 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. Ind Inc. Schedule of Completed Jobs DirectDirect Factory Materials Labor Overhead Job