1. Entries and Schedules for Unfinished Jobs and Completed Jobs

   Hildreth Company uses a A type of cost accounting system that provides for a separate record of the cost of each particular quantity of product that passes through the factory.job order cost system. The following data summarize the operations related to production for April, the first month of operations:

   1. Materials purchased on account, $3,190.
   2. The form or electronic transmission used by a manufacturing department to authorize materials issuances from the storeroom.Materials requisitioned and factory labor used:

      Job No.	Materials		Factory Labor
      101	$3,150		$3,050
      102	3,840		4,120
      103	2,550		2,010
      104	8,630		7,560
      105	5,480		5,760
      106	4,000		3,660
      For general factory use	1,070		4,510

   3. Factory overhead costs incurred on account, $6,020.
   4. Depreciation of machinery and equipment, $2,170.
   5. The factory overhead rate is $55 per machine hour. Machine hours used:

      Job No.	Machine Hours
      101		16
      102		27
      103		15
      104		78
      105		27
      106		17
      Total		180

   6. Jobs completed: 101, 102, 103, and 105.
   7. Jobs were shipped and customers were billed as follows: Job 101, $8,500; Job 102, $11,330; Job 105, $15,620.

   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 Accounts Payable Cash Factory Overhead Finished Goods Materials Work in Process
   	Accounts Payable Accounts Payable Cash Factory Overhead Finished Goods Materials Work in Process
   b.	Work in Process Accounts Payable Cash Cost of Goods Sold Materials Wages Payable Work in Process
   	Factory Overhead Accounts Payable Accounts Receivable Cash Factory Overhead Materials Wages Payable
   	Materials Accounts Payable Accounts Receivable Cash Factory Overhead Materials Work in Process
   	Wages Payable Accounts Payable Cost of Goods Sold Factory Overhead Finished Goods Work in Process Wages Payable
   c.	Factory Overhead Accounts Payable Cash Cost of Goods Sold Factory Overhead Materials Work in Process
   	Accounts Payable Accounts Payable Cash Cost of Goods Sold Factory Overhead Materials Work in Process
   d.	Factory Overhead Accounts Payable Accumulated Depreciation-Machinery and Equipment Cash Cost of Goods Sold Factory Overhead Work in Process
   	Accumulated Depreciation-Machinery and Equipment Accounts Payable Accumulated Depreciation-Machinery and Equipment Cash Factory Overhead Finished Goods Work in Process
   e.	Work in Process Accounts Payable Accounts Receivable Cash Factory Overhead Finished Goods Work in Process
   	Factory Overhead Accounts Payable Cash Factory Overhead Finished Goods Materials Work in Process
   f.	Finished Goods Accounts Payable Accounts Receivable Cash Factory Overhead Finished Goods Work in Process
   	Work in Process Accounts Payable Cash Factory Overhead Finished Goods Materials Work in Process
   g. Sale	Accounts Receivable Accounts Receivable Cash Factory Overhead Finished Goods Sales Work in Process
   	Sales Accounts Receivable Cash Factory Overhead Finished Goods Sales Work in Process
   g. Cost	Cost of Goods Sold Accounts Receivable Cost of Goods Sold Factory Overhead Finished Goods Sales Work in Process
   	Finished Goods Accounts Receivable Cost of Goods Sold Factory Overhead Finished Goods Sales Work in Process

   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) (a) (b) (c) (d) (f) (g)		(f) (a) (b) (c) (d) (e) (f) (g)
   (e) (a) (c) (d) (e) (f) (g)
   Bal.

   Finished Goods
   (f) (a) (b) (c) (d) (e) (f) (g)		(g) (a) (b) (c) (d) (e) (f) (g)
   Bal.

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

   Hildreth Company Schedule of Unfinished Jobs
   Job	Direct Materials		Direct Labor		Factory Overhead		Total
   No. 104 No. 101 No. 102 No. 103 No. 104 No. 105	$		$		$		$
   No. 106 No. 101 No. 102 No. 103 No. 105 No. 106
   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
   Job	Direct Materials		Direct Labor		Factory Overhead		Total
   Finished Goods, April 30 (Job 103) Finished Goods, April 30 (Job 103) Finished Goods, April 30 (Job 105) Finished Goods, April 30 (Job 106)	$		$		$		$

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