Hildreth Company uses a job order cost system. The following data summarize the operations related to production for April, the first month of operations
Print 1. PR. 16-02B ALGO (Algorithmic) Entries and Schedules for Unfinished Jobs and Completed Jobs 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, $3,090. b. Materials requisitioned and factory labor used: Job No. Materials Factory Labor 101 $1,950 $2,260 102 3,050 1,490 103 104 2,380 1,580 5,340 3,390 2,480 5,600 105 4,270 2,710 3,340 For general factory use 660 C. Factory overhead costs incurred on account, $3,720. d. Depreciation of machinery and equipment, $1,600. e. The factory overhead rate is $60 per machine hour. Machine hours used: Job No. Machine Hours 101 102 103 c. Factory overhead costs incurred on account, $3,720. d. Depreciation of machinery and equipment, $1,600 e. The factory overhead rate is $60 per machine hour Machine hours used: Job No. Machine Hours 101 102 105 Total 191 1. Jobs completed: 101, 102, 103, and 105. 9. Jobs were shipped and customers were billed as follows: Job 101, $6,710; Job 102, $7,740; Job 105, $11,690. 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. Entries Description Debit Credit Entries Description Debit Credit g. Sale g. Sale g. Cost 2. Post the appropriate entries to T accounts for Work in Process and Finished Goods, using the ident Work in Process Finished Goods HT Bal. 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Hildreth Company Schedule of Unfinished Jobs Finished Goods 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 Balance of Work in Process, April 30 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods acci Hildreth Company Schedule of Completed Jobs Job Direct Materials Direct Labor Factory Overhead Total