P10-2 Schedules for unfinished jobs and completed jobs Waddell Equipment Company uses a job order cost system. The following data summarize the operations related to production for April 20Y4, the first month of operations: a. Materials purchased on account, $36,000. b. Materials requisitioned and factory labor used: Job No. 401 No. 402 No. 403 No. 404 No. 405 No. 406 For general factory use Materials $5,500 4,000 2.400 7.100 3.200 1,850 3,150 Factory Labor $6,650 4,775 1,875 8,500 4,000 2,200 1,500 c Factory overhead costs incurred on account. $6,000. d. Depreciation of machinery and equipment, $1,550. e. The factory overhead rate is $40 per machine hour. Machine hours used: Job No. 401 No. 402 No. 403 No. 404 No. 405 No. 406 Total Machine Hours 38 30 18 56 24 14 180 f. Jobs completed: 401, 402, 403, and 405. 8. Jobs were shipped and customers were billed as follows. Job 401 $22,750, Job 402 $16,600, Job 403 $8,400 Instructions 1. Prepare a schedule summarizing manufacturing costs by job for April. Use the following form: Job Direct Materials Direct Labor Factory Overhead Total Chapter 10 Accounting Systems for Manufacturing Operations 2. Prepare a schedule of jobs finished in April. 3. Prepare a schedule of jobs sold in April. What account does this schedule support for the month of April? 4. Prepare a schedule of completed jobs on hand as of April 30, 20Y4. What account does this schedule support? 5. Prepare a schedule of unfinished jobs as of April 30, 2014. What account does this sched- ule support? 6. Determine the gross profit for April based upon the jobs sold. Ignore the difference between actual and applied factory overhead