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Need only 4 this Schedule of Unfinished Jobs Instructions Kurtz Fencing Inc. uses a job order cont system. The following data summarize the operations related

Need only 4 this Schedule of Unfinished Jobs
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Instructions Kurtz Fencing Inc. uses a job order cont system. The following data summarize the operations related to production for March, the first month of operations a Materials purchased on account. $45,000. b. Materials requisitioned and factory labor used: Job Materials Factory Labor 301 $ 1,850 $2.500 3.150 2,200 5250 304 305 306 For general factory use 4.230 1.770 1.200 2.400 8.225 2.000 5.000 c. Factory overhead costs incurred on account. $1.800 a. Depreciation of machinery and equipment. $2.500 e. The factory overhead rate is $30 per machine hour. Machine hours used Job Machine Hours 306 Total f. Jobs completed 301, 302, 303, and 305. 2. Jobs were shipped and customers were billed as follows. Job 301, 58.500, Job 302. $18.150. Job 303. $13.400 Required: 1. Journalize the entries to record the summarized operations. Record each item (item - ar an individual entry on March 31 Record item ga 2 entries Refer to the Chart of Accounts for exact wording of accountries 2. Fost the appropriate entries to accounts for Work in Process and Finished Goos, wong the entifying letters as transaction codes Insert memo account balances as of the end of the month For grading purposes enter transachoni albhabetical order Determine the correct ending balance. The ending balance acell provided on the left side of the account even when the ending bansa creat The unused cell on the balance line should be left blank 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account 4. Prepare a schedule of completed jobs on hand topport the balance in the finished 2000 Refer to the Of Amount Detone for the e n d of the aniversiteit entre Chart of Accounts CHART OF ACCOUNTS Kurtz Fencing Inc. General Ledger REVENUE 410 Sales 610 Interest Revenue ASSETS 110 Cash 121 Accounts Receivable 125 Notes Receivable 126 Interest Receivable 131 Materials 132 Work in Process 133 Factory Overhead 134 Finished Goods 141 Supplies 142 Prepaid Insurance 143 Prepaid Expenses 181 Land 191 Machinery and Equipment 192 Accumulated Depreciation Machinery and Equipment EXPENSES 510 Cost of Goods Sold 520 Wages Expense 531 Selling Expenses 532 Insurance Expense 533 Utilities Expense 534 Office Supplies Expense 540 Administrative Expenses 581 Depreciation Expense Machinery and Equipment 500 Miscelaneous E pense 710 Interest Expense LABLMES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 236 Interest Payable 241 Lease Payable 251 Wages Payable 252 Consultant Fees Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 Income Summary Amount Description Balance of Work in Proces, January 30 Finished Goods, January 30 (Job 305) Job No. 301 Job No. 302 Job No. 303 Job No. 304 Job No. 305 Job No. 308 Schedule of Unfinished Jobs 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account for to the of Amour Description for the exact wording of the choice for Kurtz Fenang Inc Schedule of Unfinished Jobs Direct Materials Direct Labor Factory Overhead

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