Ch 16 Problem Set eBook Calculator Print Item 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: a. Materials purchased on account, $2,100. b. Materials requisitioned and factory labor used: Job No. Materials Factory Labor 101 104 $3,320 4,050 2,690 9,100 5,780 4,220 1,130 $2,130 2,880 1,410 5,280 4,030 2,560 3,150 106 For general factory use c. Factory overhead costs incurred on account, $6,340. d. Depreciation of machinery and equipment, $1,510. e. The factory overhead rate is $60 per machine hour Machine hours used: Job No. Machine Hours 101 102 103 104 105 Check My Work 3 more Check My Work uses remaining Save and Exit Sub Assignment Score: 33.33% Type here to searche e element Ch 16 Problem Set eBook Calculator Print item c. Factory overhead costs incurred on account, $6,340. d. Depreciation of machinery and equipment, $1,510. e. The factory overhead rate is $60 per machine hour. Machine hours used: Job No. Machine Hours 106 Total f. Jobs completed: 101, 102, 103, and 105. Q. Jobs were shipped and customers were billed as follows: Job 101, 39,780; Job 102, 510,400; Job 105, $15,720. Required: 1. Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank Entries Description Debit Credit Materials Accounts Payable Work in Process Check My Work more Check My Work we remaining Assignment Score: 33.33% All work saved 16 Problem Set eBook Calculator Print Item Materials L Accounts Payable Work in Process Factory Overhead Materials Wages Payable Factory Overhead Accounts Payable Factory Overhead Accumulated Depreciation-Machinery and Equipment III II II II II II II II III Work in Process Factory Overhead Finished Goods Work in Process Finished Goods Work in Process Accounts Receivable Cost of Goods Sold Finished Goods 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 Work in Process Finished Goods 3. Prepare a schedule of fished jobs to support the balance in the work in process account TIMISTICU Buous Bal. 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Hildreth Company Schedule of Unfinished Jobs Factory Job Direct Materials Direct Labor Total Overhead 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. Hildreth Company Schedule of Completed Jobs Direct Job Factory Overhead Direct Labor Total Materials Check My Work 3 more Check My Work uses remaining. Assignment Score: 33.33% All work saved
