Grand Valley Apparel Co. uses a job order cost system. The following data summarize the operations related to production for May 2010, the first month of operations: a. Materials purchased on account, $68,000. b. Materials requisitioned and factory labor used: Job Materials Factory Labor No. 401 No. 402 No. 403 No. 404 No. 405 No. 406 For general factory use 9,200 11,000 6.400 18,200 8,600 8,500 4,100 S 9,250 13,400 5,000 17,400 7,400 8,900 9,600 c. Factory overhead costs incurred on account, $2,750. d. Depreciation of machinery and equipment, $1,870. e. The factory overhead rate is $25 per machine hour. Machine hours used: Job Machine Hours No. 401 No. 402 No. 403 No. 404 No. 405 No. 406 Total 108 110 86 160 109 690 f. Jobs completed: 401, 402, 403, and 405. g. Jobs were shipped and customers were billed as follows: Job 401, $26,000; Job 402, $33,400; Job 405, $23,400. Instructions 1. Journalize the entries to record the summarized operations. 2. Post the appropriate entries to T accounts for Work in Process and Finished Goods, using the identifying letters as dates. Insert memo account balances as of the end of the month. account goods account. 3. Prepare a schedule of unfinished jobs to support the balance in the work in process 4. Prepare a schedule of completed jobs on hand to support the balance in the finished