Instructions

Kurtz Fencing Inc. uses a job order cost system. The following data summarize the operations related to production for March, the first month of operations:

a$.$ Materials purchased on account, $$28,610.$

b$.$ Materials requisitioned and factory labor used:

c$.$ Factory overhead costs incurred on account, $$5,710.$

d$.$ Depreciation of machinery and equipment, $$1,810.$

e$.$ The factory overhead rate is $$55$ per machine hour. Machine hours used:

f$.$ Jobs completed: $301,302,303$ and $305.$

g$.$ Jobs were shipped and customers were billed as follows: Job $301,$ $$8,520$; Job $302,$ $$10,770$; Job $303,$ $$15,650.$

Required:

Joumalize the entries to record the summanized operations. Record each item $($items a$-$f$)$ as an individual entry on March $31.$ Record item g as

$2$ entries. Refer to the Chart of Accounts for exact wording of account titles.

Post the appropriate entries to $T$ accounts for Work in Process and Finished Goods, using the identifying lefters as transaction codes. Insert

memo account balances as of the end of the month. For grading purposes enter transactions in a$/$phabetical order. Determine the correct

ending balance. The ending balance label is provided on the left side of the $T$ account even when the ending balance is a credit. The unused

cell on the balance line should be left blank.

Prepare a schedule of unfinished jobs to support the balance in the work in process account.$*$

Prepare a schedule of completed jobs on hand to support the balance in the finished goods account. $*$

$*$Refer to the list of Amount Descriptions for the exact wording of the answer choices for text entries. Please help with the Journal, T Account, Scedule of Unfinished jobs, Scedule of completed jobs. Thank you.