Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question Content Area Entries and Schedules for Unfinished Jobs and Completed Jobs Hildreth Company uses a job order cost system. The following data summarize the

Question Content Area Entries and Schedules for Unfinished Jobs and Completed Jobs Hildreth Company uses a job order cost system. The following data summarize the operations related to production for April, the first month of operations: Materials purchased on account, $3,120. Materials requisitioned and factory labor used: Job No. Materials Factory Labor 101 $2,130 $3,150 102 2,600 4,250 103 1,730 2,080 104 5,840 7,810 105 3,710 5,950 106 2,710 3,780 For general factory use 720 4,660 Factory overhead costs incurred on account, $4,070. Depreciation of machinery and equipment, $2,240. The factory overhead rate is $40 per machine hour. Machine hours used: Job No. Machine Hours 101 37 102 34 103 40 104 69 105 27 106 28 Total 235 Jobs completed: 101, 102, 103, and 105. Jobs were shipped and customers were billed as follows: Job 101, $8,110; Job 102, $9,850; Job 105, $15,690. 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. Work in Process (b) fill in the blank 56 (f) fill in the blank 58 (e) fill in the blank 60 Bal. fill in the blank 61 Finished Goods (f) fill in the blank 63 (g) fill in the blank 65 Bal. fill in the blank 66

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit Proofing Your Return

Authors: Jr. Wade, Jack Warren

1st Edition

002622240X, 978-0026222402

More Books

Students also viewed these Accounting questions

Question

Evaluate three pros and three cons of e-prescribing

Answered: 1 week ago

Question

b. Explain how you initially felt about the communication.

Answered: 1 week ago