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Entries and Schedules for Unfinished Jobs and Completed Jobs

Hildreth Company uses job order costing. The following data summarize the operations related to production for April, the first month of operations:

Materials purchased on account, $$3,240.$

Materials requisitioned and factory labor used:

Job No$.$

Materials

Factory Labor

$101$

$$3,310$

$$3,280$

$102$

$4,040$

$4,430$

$103$

$2,680$

$2,160$

$104$

$9,070$

$8,130$

$105$

$5,760$

$6,200$

$106$

$4,200$

$3,940$

For general factory use

$1,130$

$4,850$

Factory overhead costs incurred on account, $$6,320.$

Depreciation of machinery and equipment, $$2,330.$

The factory overhead rate is $$55$ per machine hour. Machine hours used:

Job No$.$

Machine Hours

$101$

$23$

$102$

$17$

$103$

$16$

$104$

$74$

$105$

$20$

$106$

$32$

Total

$182$

Jobs completed: $101,102,103,$ and $105.$

Jobs were shipped and customers were billed as follows: Job $101,$ $$9,430$; Job $102,$ $$11,290$; Job $105,$ $$16,590.$

Required:

$1.$ Journalize the entries to record the summarized operations. If an amount box does not require an entry, leave it blank.

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.

Transaction

Debit amount

Transaction

Credit amount

$($a$)($b$)($c$)($d$)($f$)($g$)($b$)$

fill in the blank $56$

$($a$)($b$)($c$)($d$)($e$)($f$)($g$)($f$)$

fill in the blank $58$

$($a$)($c$)($d$)($e$)($f$)($g$)($e$)$

fill in the blank $60$

Bal.

fill in the blank $61$

Transaction

Debit amount

Transaction

Credit amount

$($a$)($b$)($c$)($d$)($e$)($f$)($g$)($f$)$

fill in the blank $63$

$($a$)($b$)($c$)($d$)($e$)($f$)($g$)($g$)$

fill in the blank $65$

Bal.

fill in the blank $66$

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

Job

Direct

Materials

Direct

Labor

Factory

Overhead

Total

No$.101$No$.102$No$.103$No$.104$No$.105$No$.104$

$

fill in the blank $68$

$

fill in the blank $69$

$

fill in the blank $70$

$

fill in the blank $71$

No$.102$No$.103$No$.104$No$.105$No$.106$No$.106$

fill in the blank $73$

fill in the blank $74$

fill in the blank $75$

fill in the blank $76$

Balance of Work in Process, April $30$

$

fill in the blank $77$

$4.$ Prepare a schedule of completed jobs on hand to support the balance in the finished goods account.

Job

Direct Materials

Direct Labor

Factory

Overhead

Total

Finished Goods, April $30($Job $103)$Finished Goods, April $30($Job $105)$Finished Goods, April $30($Job $106)$Finished Goods, April $30($Job $103)$

$

fill in the blank $79$

$

fill in the blank $80$

$

fill in the blank $81$

$

fill in the blank $82$

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