Question

Entries and Schedules for Unfinished Jobs and Completed Jobs

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

Materials purchased on account, $2,690.

Materials requisitioned and factory labor used:

Job No.	Materials		Factory Labor
101	$2,430		$3,070
102	2,960		4,140
103	1,970		2,030
104	6,660		7,610
105	4,230		5,800
106	3,090		3,680
For general factory use	830		4,540

Factory overhead costs incurred on account, $4,640.

Depreciation of machinery and equipment, $2,180.

The factory overhead rate is $60 per machine hour. Machine hours used:

Job No.	Machine Hours
101		41
102		23
103		25
104		72
105		26
106		24
Total		211

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

Jobs were shipped and customers were billed as follows: Job 101, $9,550; Job 102, $10,180; Job 105, $15,950.

Answer 1

job sheet
		Materials	labor	overhead	total
job 101		2,430	3,070	2460	7,960
job 102		2,960	4,140	1380	8,480
job 103		1,970	2,030	1500	5,500
job 104		6,660	7,610	4320	18,590
job105		4,230	5,800	1560	11,590
job 106		3,090	3,680	1440	8,210
total		21,340	26,330	12660	60,330
Entries	Description				Debit	Credit
a.	Raw materials inventory				2,690
	Accounts payable					2,690
b.	Work in process inventory				47,670
	Factory overhead				5370
	Raw materials inventory					22,170
	Factory payroll					30,870
c.	Factory overhead				4,640
	Accounts payable					4,640
d.	Factory overhead				2,180
	Accumulated depreciation					2,180
e.	Work in process inventory				12,660
	Factory overhead					12,660
f.	Finished goods inventory				33,530
	work in process inventory					33,530
	(job 101,102,103 &105)
g.	Accounts receivable				35680
	sale					35,680
	cost of good sold				28,030
	finished goods inventory					28,030
	(44,980+57640+39,990)
2)	work in process
	b.	47,670	33,530	f.
	e.	12,660
	bal	26,800
	Finished goods
	f.	33,530	28,030	g.
	bal	5,500
3)	Schedule of unfinished jobs
	job	Direct	direct	FOH	total
		materials	labor
	job 104	6,660	7,610	4320	18,590
	job 106	3,090	3,680	1440	8,210
	Balance in work in process ,april 30				26,800
4)	Schedule of completed jobs
		job	Direct	direct	FOH	total
			materials	labor
		job 103	1,970	2,030	1,500	5,500