PR 16-2A Entries and schedules for unfinished jobs and completed jobs Obj. 2 k In Process Kurtz Fencing Inc. uses a job order cost system. The following data summarize the operations ce, \$11,840 related to production for March, the first month of operations: a. Materials purchased on account, $45,000. b. Materials requisitioned and foctory labor used: c. Factory overhead costs incurred on account, \$1,800. d. Depreciation of machinery and equipment, 52,500 . e. The factory overhead rate is 530 per machine hour. Machine hours used. 1. Jobs completed: 301, 302, 303, and 305 . 9. Jobs wete shipped and customers were billed as follows: Job 301,58,500,j00302,516,150, Job 303, 513,400 . f. Jobs completed 301,302,303, and 305 . 9. Jobs were shipped and customers were billed as follows: Job 301, $8,500; Job 302, $16,150; Job 303, $13,400. Instructions 1. Journalize the entries to record the summarized operations. 2. Post the appropriate entries to T accounts for Work in Process and Finished Goods, using the identifying letters as transaction codes. Insert memo account balances as of the end of the month. 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 to support the balance in the finished goods account. PR 16-3A Job cost sheet Obj. 2 Remnant Carpet Company sells and installs commercial carpeting for office buildings. Remnant Carpet Company uses a job order cost system. When a prospective customer asks for a price quote on a job, the estimated cost data are inserted on an unnumbered job cost sheet. If the