REQUIREDJ Chapter 16 Homework eBook Calculator Entries and schedules for unfinished jobs and completed jobs Instruction Chart of Accounts Amount Descriptions Journal T Accounts Instructions Kurtz Fencing Inc, uses a job order cost system. The following data summarize the operations related to production for March, the first month of operations: a. Materials purchased on account, $30,100. b. Materials requisitioned and factory labor used: Job Materials 301 Factory Labor $2,720 3,810 $3,110 3.710 2.400 302 303 1,970 304 8,500 6,870 305 5,410 306 5.210 3,850 1,080 3.290 For general factory use 4.120 C. Factory overhead costs incurred on account, $5,440. d. Depreciation of machinery and equipment, 1,980. e. The factory overhead rate is $53 per machine hour. Machine hours used: Job Machine Hours Check My Work Entries and schedules for unfinished jobs and completed jobs Instructions Chart of Accounts Amount Descriptions Journal TAccounts HI Instructions Job Machine Hours 301 25 302 35 303 32 304 73 305 38 306 24 Total 227 1. Jobs completed: 301, 302, 303 and 305 9 Jobs were shipped and customers were billed as follows: Job 301, 87,990; Job 302, 510,960, Job 303, $14,290 Required: 1. Joumalize the entries to record the survarired operations. Record each item (items a-t) as an individual entry on March 31. Record itong as 2 entries. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use ines for spaces or journal explanations. Every line on a journal page is used for debitor credit entries. Do not add explanations or skip a Ine between journal entries. CNOW journals will automatically indent a credit only when a credit amount is entered Check My Work Entries and schedules for unfinished jobs and completed jobs Instructions Chart of Accounts Amount Descriptions Journal T Accounts Instructions 306 24 Total 227 1. Jobs completed: 301, 302, 303 and 305 9. Jobs were shipped and customers were billed as follows: Job 301, 57,990; Job 302. $10,960; Job 303, 514,290. Required: 1. Journalize the entries to record the summarized operations. Record each item(items a-t) as an individual entry on March 31. Record item g as 2 entries. Refer to the chart of accounts for the exact wording of the account illes. CNOW journals do not use lines for spaces or journal explanations. Every line on a journal page is used for debit or credit entries. Do not add explanations or skip a line between journal entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. 2. Post the appropriate entries to 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. For grading purposes enter transactions in aphabetical order. Determine the correct onding balance. The ending balance label is provided on the left side of the account even when the ending balance is a credit. The unused call 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 to support the balance in the finished goods account "Refer to the list of Amount Descriptions provided for the exact wording of the answer choices for text entries. Entries and schedules for unfinished jobs and completed jobs Instructions Chart of Accounts Amount Descriptions Journal TAccounts Instructions Amount Descriptions Journal 1. Joumature the entries to record the summarized operations. Record each item ters a-t) as an individual entry on March 31. Record tengas 2 entries. Refer to the chart of accounts for the exact wording of the account sites. CNOW joumals do not use ines for spaces or your explanations. Every Nne on a journal page is ved for debit or credit anterior. Do not add explorations or skipa tine between journal entries. CNOW was will automation indent a credit entry when a credit amount is entered PAGE 10 ACCOUNTING EQUATION JOURNAL DATE DESCRIPTION POST, REY DEBIT CREDIT ASSETS LIABILITIES EQUITY [REQUIRED) Chapter 16 Homework eBook Calculator Entries and schedules for unfinished jobs and completed jobs Instructions Chart of Accounts Amount Descriptions Journal T Accounts Instructions Amount Descriptions Journal T Accounts 2. Post the appropriate entries to accounts for Work in Process and Finished Goods, using the identifying letters as transaction codes Insert meno ccount balances as of the end of the month For grading purposes onder transactions in aphabetical order Determine the correct ending balance. The ending balance lubel is provided on the side of the account even when the ending balance is a credil. The used call on the balance in should be left bank Work in Process b BA Finished Goods Bal Pre Check My Work Schedule of Unfinished Jobs 3. Prepare a schedule of unfinished to support the balance in the work in process account. Refer to the far of Amount Descriptions provided for the act wording of the answer choice for latentes Kurtz Fencing in Schedule of Unfinished Jobs Direct Materials Job Direct Labor Factory Overhead Total Entries and schedules for unfinished jobs and completed jobs Instructions Chart of Accounts Amount Descriptions Journal T Accounts Instructions Amount Descriptions Journal T Accounts Schedule of Unfinished Jobs Schedule of Completed Jobs 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods Pet to the list of Amount Descriptions provided for the exact wording of the answer choice for taxt entries. Kurtz Fencing Inc Schedule of Completed Jobs Direct Materials kob Direct Labor Factory Overhead