Tybee Industries Inc. uses a job order cost system. The following data summarize the operations related to production for January 2016, the first month of operations:

Job			Materials	Factory Labor
	a. Materials purchased on account, $30,100.
	b. Materials requisitioned and factory labor used:
301			$3,110	$2,720
302			3,710	3,810
303			2,400	1,970
304			8,500	6,870
305			5,210	5,410
306			3,850	3,290
For general factory use			1,080	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
301			25
302			35
303			32
304			73
305			38
306			24
Total			227

Required:

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

g. Jobs were shipped and customers were billed as follows: Job 301, $7,990; Job 302, $10,960; Job 303, $14,290.

A.

Journalize the entries to record the summarized operations. Record each item (items a-f) as an individual entry on January 31. Record item g as 2 entries. Refer to the Chart of Accounts for exact wording of account titles.

B.

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.

C.

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

D.

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

* Refer to the list of Amount Descriptions for the exact wording of the answer choices for text entries.