Hildreth Company uses a job order cost system. The following data summarize the operations related to production for April, the first month of operations:

Materials purchased on account, $$3,370.$

Materials requisitioned and factory labor used:

Job No$.$ Materials Factory Labor

$101$ $$2,240$ $$2,860$

$1022,7303,860$

$1031,8101,890$

$1046,1407,090$

$1053,9005,410$

$1062,8403,430$

For general factory use $7604,230$

Factory overhead costs incurred on account, $$4,280.$

Depreciation of machinery and equipment, $$2,030.$

The factory overhead rate is $$40$ per machine hour. Machine hours used:

Job No$.$ Machine Hours

$10134$

$10227$

$10342$

$10480$

$10517$

$10645$

Total $245$

Jobs completed: $101,102,103,$ and $105.$

Jobs were shipped and customers were billed as follows: Job $101,$ $$7,750$; Job $102,$ $$9,200$; Job $105,$ $$15,600.$

Required:

$1.$ Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank.

Entries Description Debit Credit

a$.$

Materials

fill in the blank $2$

$3,370$

fill in the blank $3$

Accounts Payable

fill in the blank $5$

fill in the blank $6$

$3,370$

b$.$

Work in Process

fill in the blank $8$

fill in the blank $9$

Factory Overhead

fill in the blank $11$

fill in the blank $12$

Materials

fill in the blank $14$

fill in the blank $15$

Wages Payable

fill in the blank $17$

fill in the blank $18$

c$.$

Factory Overhead

fill in the blank $20$

fill in the blank $21$

Accounts Payable

fill in the blank $23$

fill in the blank $24$

d$.$

Factory Overhead

fill in the blank $26$

fill in the blank $27$

Accumulated Depreciation$-$Machinery and Equipment

fill in the blank $29$

fill in the blank $30$

e$.$

Work in Process

fill in the blank $32$

fill in the blank $33$

Factory Overhead

fill in the blank $35$

fill in the blank $36$

f$.$

Finished Goods

fill in the blank $38$

fill in the blank $39$

Work in Process

fill in the blank $41$

fill in the blank $42$

g$.$ Sale

Accounts Receivable

fill in the blank $44$

fill in the blank $45$

Sales

fill in the blank $47$

fill in the blank $48$

g$.$ Cost

Cost of Goods Sold

fill in the blank $50$

fill in the blank $51$

Finished Goods

fill in the blank $53$

fill in the blank $54$

$2.$ 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$)$

fill in the blank $56$

$($f$)$

fill in the blank $58$

$($e$)$

fill in the blank $60$

Bal. fill in the blank $61$

Finished Goods

$($f$)$

fill in the blank $63$

$($g$)$

fill in the blank $65$

Bal. fill in the blank $66$

$3.$ 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$.104$

$ fill in the blank $68$

$ fill in the blank $69$

$ fill in the blank $70$

$ fill in the blank $71$

No$.106$

fill in the blank $73$

fill in the blank $74$

fill in the blank $75$

fill in the blank $76$

Balance of Work in Process, April $30$ $ fill in the blank $77$

$4.$ 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