Staircase Equipment Company uses a job order cost system. The following data summarize the operations related to production for April 2014, the first month of operations:

Materials purchased on account, $1,900.

Materials requisitioned and factory labor used:

Job	Materials		Factory Labor
No. 301	$2,670		$1,710
No. 302	3,260		2,310
No. 303	2,160		1,130
No. 304	7,320		4,240
No. 305	4,650		3,230
No. 306	3,390		2,050
For general factory use	910		2,530

Factory overhead costs incurred on account, $5,100.

Depreciation of machinery and equipment, $1,210.

The factory overhead rate is $70 per machine hour. Machine hours used:

Job	Machine Hours
No. 301	32
No. 302	36
No. 303	41
No. 304	81
No. 305	21
No. 306	44
Total	255

Jobs completed: 301, 302, 303, and 305.

Jobs were shipped and customers were billed as follows: Job 301, $7,940; Job 302, $9,710; Job 303, $17,860.

1. Journalize the entries to record the summarized operations. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".

Entries	Description	Debit	Credit
a. Materials
Accounts Payable
b. Work in Process
Factory Overhead
Materials
Wages Payable
c. Factory Overhead
Accounts Payable
d. Factory Overhead
Accumulated Depreciation-Machinery&Equipment
e. Work in Process
Factory Overhead
f. Finished Goods
Work in Process
g. Accounts Receivable
Sales
Cost of Goods Sold
Finished Goods

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

(select a,b,c,d,e,f or g)		(select a,b,c,d,e,f or g)
(select a,b,c,d,e,f or g)
Balance

Finished Goods

(select a,b,c,d,e,f,g)		(select a,b,c,d,e,f, or g)
Balance

3. Prepare a schedule of unfinished jobs to support the balance in the work in process account.

Staircase Equipment Company Schesule of Unfineshed Jobs

Job	Direct Materials	Direct Labor	Factory Overhead	Total
(select #301,302,303,304,305)	$	$	$	$
(selct #301,302,303,304,305)
Balance of Work in Process, April 30				$

4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account.

Staircase Equipment Company Schedule of Completed Jobs

Job	Direct Materials	Direct Labor	Factory Overhead	Total
(select job:303,305,306)	$	$	$	$