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2. Post the appropriate entries to Taccounts for Work in Process and Finished Goods, using the identlying letters as transaction cades. Determine the corroct ending balance. The ending balance label is provided on the left side of the T account even when the encing balance is a credit. The unused cell on the balance line should be left blank. 3. Prepare a schedule of unfinishod jobs to support the balance in the work in process account. 4. 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. e. The factory overhead rate is $65 per machine hour. Machine hours used: t. Jobs completed: 301,302,303, and 305 . 9. Jobs were shipped and customers were billed as follows: Job 301, \$23,450; Job 302, \$19,210; Job 303, \$17,360 Required: 1. Journalize the entries to record the summarized operations. Aecord each ifem (fems a-f) as an individual entry on Januaty 31 . Fiecord ifem 9 as 2 entries. Fefer to the chart of accounts for the exact wording of the account bltos. CNOW journals do not use fines for joumal explanations, Every line on a journal page is used for debit or credit entries. CNOW joumals will automaticaly indent a credit entry when a credit amount is entered. 3. Prepare a schedule of unfinishod jobs to support the balance in the work in process account. Aefer to the list of Amount Descriptions for the exact wording of the answer choices for text entries. 2. Post the appropriate entries to T accounts for Work in Process and Finished Goods, using the identlying lotters as transaction codes. Determine the correct ending bulance. The ending balance label is provided on the left side of the Taccount even when the ending balance is a credit. The unused cell on the balance line should be left blank: 125 Notes Recelvable 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 561 Dopreciation Expense-Machinery and Equipment 590 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 221 Utilties Payable 231 Notes Payable 236 Interest Payable 241 Lease Payable 251 Wages Payable 252 Consultant Fees Payable Kaymer Industries inc. uses a job order cost system. The following data summarize the operations related to production for January, the first month of operations: a. Materials purchased on account, $33,100. b. Materials requisitioned and tactory labor used: c. Factory overhead costs incurred on account, $6,470 d. Depreciation of factory machinery and equipment, $1,790. 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account. Refer to the fist of Amount Descriptions list for the exact wording of the answer choices for text entries. Job No. 301 Job No. 302 Job No. 303 Job No. 304 Job No. 305 Job No. 306 1. Joumalize the entries fo record the summarized operations. Fecord each item (items a-1) as an individual entry on January 31 . Record item as 2 entries. Refer chart of accounts for the exact wording of the account biles. CNOW joumals do not use lines for joumal explanations, Every line on a joumal page is used tor debit entries. CNOW joumals will automatically indent a credit entry when a credit amount is enitered
