Hildreth Company uses a job order cost system. The following data summarize the operations related to production for April, the first month of operations: a. Materials purchased on account, $2,950. b. Materials requisitioned and factory labor used: Job No. Materials Factory Labor 101 $2,750 $3,300 102 3,360 4,460 103 2,230 2,180 104 7,540 8,180 105 4,790 6,240 106 3,490 3,960 For general factory use 940 +880 c. Factory overhead costs incurred on account, $5,250. d. Depreciation of machinery and equipment, $2,340. e. The factory overhead rate is $60 per machine hour. Machine hours used: Job No. 101 102 103 Machine Hours 24 41 39 104 79 40 105 Job No. Machine Hours 101 241 102 41 103 39 104 79 105 40 106 25 Total 248 f. Jobs completed: 101, 102, 103, and 105. g. Jobs were shipped and customers were billed as follows: Job 101, $8,990; Job 102, $12,340; Job 105, $19,580. Required: 1. Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank. Entries a Materials Accounts Payable b. Work in Process Factory Overhead Materials Description Debit Credit 2,950 2,950 5,250 Previous Next Entries a. Materials Accounts Payable b. Work in Process Factory Overhead Materials Wages Payable C. Factory Overhead Accounts Payable d. Factory Overhead Description Debit Credit 2,950 2,950 Accumulated Depreciation-Machinery and Equipment Work in Process Factory Overhead Finished Goods Work in Process 5,250 5,250 9. Sale Accounts Receivable Sales 9. Cost of Goods Sold Cost 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. (b) (O Bal. Work in Process 0 Bal. Finished Goods (9) 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Hildreth Company Schedule of Unfinished Jobs Previous Next Bal. 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Hildreth Company Schedule of Unfinished Jobs Job Direct Materials Direct Labor Factory Overhead Total No. 104 No. 106 Balance of Work in Process, April 30 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account. Hildreth Company Schedule of Completed Jobs Job Direct Materials Direct Labor Factory Overhead Total Finished Goods, April 30 (Job 103)