Schedules for Unnished 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 rst month of operations: a. Materials purchased on account, $117,000. b. Materials requisitioned and factory labor used: Job Materials F::::V No. 401 $11,750 $11,000 No. 402 14,375 14,350 No. 403 9,500 7,450 No. 404 32,250 27,300 No. 405 20,500 20,750 No. 406 14,900 13,250 For general factory use 4,300 16,250 c. Factory overhead costs incurred on account, $13,000. d. Depreciation of machinery and equipment, $6,240. e. The factory overhead rate is $53 per machine hour. Machine hours used: Job Machine Hours No. 401 38 No. 402 30 No. 403 18 No. 404 56 No. 405 24 No. 406 14 Total 180 f. Jobs completed: 401, 402, 403, and 405. 9. Jobs were shipped and customers were billed as follows: Job 401, $32,500; Job 402, $45,000; Job 403, $60,000. Instructions: 1. Prepare a schedule summarizing manufacturing costs by job for April. Waddell Equipment Company Schedule Summarizing Manufacturing Costs For the Month of ril 30, 20Y4 > Job Direct Materials Direct Labor Factory Overhead Total w Feedback v Check My Work Multiply the factory overhead rate times the number of machine hours for each job. Include the direct materials, direct factory labor, and factory overhead for each job. 2. Prepare a schedule of jobs nished in April. Weddell Equipment Company Schedule of Jobs Finished > For the Month of geril 30, 20Y4 Job Direct Materials Direct Labor Factory Overhead Total No. 401 __ 11,750 J -.- 11,000 J __ 2,014 J __ 24,764 J No.402 14,375 J 14,850 J 1.590 J Total Feedback 1 Check My Work Include the direct materials, direct labor, and factory overhead for each nished job. 3. Prepare a schedule of jobs sold in April. Waddell Equipment Company Schedule of Jobs Sold For H19. Mnnth of EH1 30,. 20'\" Job No. 401 C No. 402 |:] No. 403 C] Total 4:] What account does this schedule support for the month of April? Flnlshed goods I 4. Prepare a schedule of completed jobs on hand as of April 30, 20Y4. waddell Equlpment Company Schedule of Completed Jobs on Hand For Hie Monl of 52f" 30! 2074 Job Direct Materials Direct Labor Factory Overhead Total nished Goods, April 30 (Job 405) 5:] 4:} D 5:] What account does this schedule support? Flnl-hed good: J 5. Prepare a schedule of unnished jobs as of April 30, 20Y4. Waddall Equipmml: Company Sd'ledule of Unnished Job! ForleMon'Iof ril3l) 20?! Job Direct Mawials Direct Labor Fa Overhead Total No. 404 No. 406 Balance of Work in Prom, April 30 what account does this schedule support? Cost of goods sold X 6. Determine the gross prot for April based upon the jobs sold. Ignore the difference between actual and applied factory overhead. ||U