Kaymer 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, $25,420. Materials requisitioned and factory labor used: Job Materials Factory Labor 301 $2,570 $2,350 302 3,140 3,170 303 2,080 1,550 304 7,040 5,830 305 4,470 4,440 306 3,260 2,820 For general factory use 870 3,480 Factory overhead costs incurred on account, $4,910. Depreciation of f

Kaymer 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, $25,420.

Materials requisitioned and factory labor used:

Job	Materials		Factory Labor
301	$2,570		$2,350
302	3,140		3,170
303	2,080		1,550
304	7,040		5,830
305	4,470		4,440
306	3,260		2,820
For general factory use	870		3,480

Factory overhead costs incurred on account, $4,910.

Depreciation of factory machinery and equipment, $1,670.

The factory overhead rate is $70 per machine hour. Machine hours used:

Job	Machine Hours
301		43
302		29
303		29
304		82
305		45
306		23
Total		251

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

Jobs were shipped and customers were billed as follows: Job 301, $9,520; Job 302, $10,010; Job 303, $16,410.

Required:

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

Entries	Description	Debit	Credit
a.	Accounts PayableFactory OverheadFinished GoodsMaterialsWork in ProcessMaterials	fill in the blank 2	fill in the blank 3
	Accounts PayableFactory OverheadFinished GoodsMaterialsWork in ProcessAccounts Payable	fill in the blank 5	fill in the blank 6
b.	Accounts PayableCost of Goods SoldMaterialsWages PayableWork in ProcessWork in Process	fill in the blank 8	fill in the blank 9
	Accounts PayableAccounts ReceivableFactory OverheadMaterialsWages PayableFactory Overhead	fill in the blank 11	fill in the blank 12
	Accounts PayableAccounts ReceivableFactory OverheadMaterialsWork in ProcessMaterials	fill in the blank 14	fill in the blank 15
	Accounts PayableCost of Goods SoldFactory OverheadWork in ProcessWages PayableWages Payable	fill in the blank 17	fill in the blank 18
c.	Accounts PayableCost of Goods SoldFactory OverheadMaterialsWork in ProcessFactory Overhead	fill in the blank 20	fill in the blank 21
	Accounts PayableCost of Goods SoldFactory OverheadMaterialsWork in ProcessAccounts Payable	fill in the blank 23	fill in the blank 24
d.	Accounts PayableAccumulated Depreciation-Machinery and EquipmentCost of Goods SoldFactory OverheadWork in ProcessFactory Overhead	fill in the blank 26	fill in the blank 27
	Accounts PayableAccumulated Depreciation-Machinery and EquipmentCost of Goods SoldFactory OverheadWork in ProcessAccumulated Depreciation-Machinery and Equipment	fill in the blank 29	fill in the blank 30
e.	Accounts PayableAccounts ReceivableFactory OverheadFinished GoodsWork in ProcessWork in Process	fill in the blank 32	fill in the blank 33
	Accounts PayableFactory OverheadFinished GoodsMaterialsWork in ProcessFactory Overhead	fill in the blank 35	fill in the blank 36
f.	Accounts PayableAccounts ReceivableFactory OverheadFinished GoodsWork in ProcessFinished Goods	fill in the blank 38	fill in the blank 39
	Accounts PayableFactory OverheadFinished GoodsMaterialsWork in ProcessWork in Process	fill in the blank 41	fill in the blank 42
g.	Accounts ReceivableFactory OverheadFinished GoodsSalesWork in ProcessAccounts Receivable	fill in the blank 44	fill in the blank 45
	Accounts ReceivableFactory OverheadFinished GoodsSalesWork in ProcessSales	fill in the blank 47	fill in the blank 48
	Accounts PayableCost of Goods SoldFactory OverheadFinished GoodsWork in ProcessCost of Goods Sold	fill in the blank 50	fill in the blank 51
	Accounts PayableCost of Goods SoldFactory OverheadFinished GoodsWork in ProcessFinished Goods	fill in the blank 53	fill in the blank 54

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
(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

Finished Goods
(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.

Kaymer Industries Inc. Schedule of Unfinished Jobs
Job	Direct Materials		Direct Labor		Factory Overhead		Total
No. 301No. 302No. 303No. 304No. 305No. 304		$fill in the blank 68		$fill in the blank 69		$fill in the blank 70		$fill in the blank 71
No. 302No. 303No. 304No. 305No. 306No. 306		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, January 30								$fill in the blank 77

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

Kaymer Industries Inc. Schedule of Completed Jobs
Job	Direct Materials		Direct Labor		Factory Overhead		Total
Finished Goods, January 30 (Job 303)Finished Goods, January 30 (Job 305)Finished Goods, January 30 (Job 306)Finished Goods, January 30 (Job 305)		$fill in the blank 79		$fill in the blank 80		$fill in the blank 81