Tybee Industries Inc. uses a job order cost system. The following data summarize the operations related to production for January, the first month of operations: Materials purchased on account, $1,870. Materials requisitioned and factory labor used: Job Materials Factory Labor 301 $1,990 $2,970 302 2,430 4,010 303 1,610 1,960 304 5,450 7,370 305 3,460 5,610 306 2,530 3,560 For general factory use 680 4,400 Factory overhead costs incurred on account, $3,800. Depreciation of machinery and equipment, $2,110. The factory overhead rate is $70 per machine hour. Machine hours used: Job Machine Hours 301 33 302 39 303 42 304 80 305 29 306 25 Total 248 Jobs completed: 301, 302, 303, and 305. Jobs were shipped and customers were billed as follows: Job 301, $8,720; Job 302, $11,000; Job 303, $18,880. Required: 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. Entries Description Debit Credit a. Materials fill in the blank 2 1,870 Accounts Payable fill in the blank 4 1,870 b. Work in Process fill in the blank 6 fill in the blank 7 Factory Overhead fill in the blank 9 fill in the blank 10 Materials fill in the blank 12 fill in the blank 13 Wages Payable fill in the blank 15 fill in the blank 16 c. Factory Overhead fill in the blank 18 3,800 Accounts Payable fill in the blank 20 3,800 d. Factory Overhead fill in the blank 22 2,110 Accumulated Depreciation-Machinery and Equipment fill in the blank 24 2,110 e. Work in Process fill in the blank 26 Factory Overhead fill in the blank 28 f. Finished Goods fill in the blank 30 Work in Process fill in the blank 32 g. Accounts Receivable fill in the blank 34 Sales fill in the blank 36 Cost of Goods Sold fill in the blank 38 Finished Goods fill in the blank 40 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 42 (f) fill in the blank 44 (e) fill in the blank 46 Bal. fill in the blank 47 Finished Goods (f) fill in the blank 49 (g) fill in the blank 51 Bal. fill in the blank 52 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Tybee Industries Inc. Schedule of Unfinished Jobs Job Direct Materials Direct Labor Factory Overhead Total No. 304 $ fill in the blank 54 $ fill in the blank 55 $ fill in the blank 56 $ fill in the blank 57 No. 306 fill in the blank 59 fill in the blank 60 fill in the blank 61 fill in the blank 62 Balance of Work in Process, January 30 $ fill in the blank 63 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account. Tybee Industries Inc. Schedule of Completed Jobs Job Direct Materials Direct Labor Factory Overhead Total Finished Goods, January 30 (Job 305) $ fill in the blank 65 $ fill in the blank 66 $ fill in the blank 67 $ fill in the blank 68 Feedback Area Feedback