XYZ Company produces a t-shirt. XYZ 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 $15,000

Materials requisitioned and labor used are as follows:

	Material	Factory labor
Job 1	2,150	1,220
Job 2	740	150
Job 3	480	200
Job 4	2920	1400
Job 5	500	100
Job 6	1600	1,250
For General factory use	100	200

Factory overhead costs incurred on account $2,200

Depreciation of machinery $1,250

The factory overhead is applied at 65% of direct labor cost

Jobs completed 1, 2, 3, and 4

Jobs 1, 2, and 3 are shipped, and customers are billed for $7,600, $3,300, and $3,000 respectively.

Instructions:

Journalize the entries to record the transactions identified above

Determine the account balances for Work-in-Process and Finished Goods accounts

Prepare a schedule of unfinished jobs to support the balance in the Work-in-Process account

Prepare a schedule of completed jobs on-hand to support the balance in the Finished Goods account.