Entries and Schedules for Unfinished Jobs and Completed Jobs 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, $30,580. Materials requisitioned and factory labor used: Job Materials Factory Labor 301 $2,980 $2,560 302 3,640 3,460 303 2,410 1,690 304 8,170 6,350 305 5,190 4,840 306 3,780 3,070 For general factory use 1,010 3,790 Factory overhead costs incurred on account, $5,690. Depreciation of factory machinery and equipment, $1,820. The factory overhead rate is $55 per machine hour. Machine hours used: Job Machine Hours 301 39 302 27 303 34 304 74 305 30 306 18 Total 222 Jobs completed: 301, 302, 303, and 305. Jobs were shipped and customers were billed as follows: Job 301, $9,220; Job 302, $10,300; Job 303, $17,310. 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. Materials fill in the blank 2 fill in the blank 3   Accounts Payable fill in the blank 5 fill in the blank 6         b. Work in Process fill in the blank 8 fill in the blank 9   Factory Overhead fill in the blank 11 fill in the blank 12   Materials fill in the blank 14 fill in the blank 15   Wages Payaable fill in the blank 17 fill in the blank 18         c. Factory Overhead  fill in the blank 20 fill in the blank 21   Accounts Payable  fill in the blank 23 fill in the blank 24         d. Factory Overhead fill in the blank 26 fill in the blank 27   Accumulated Depreciation-Machinery and Equipment fill in the blank 29 fill in the blank 30         e. Work in Process  fill in the blank 32 fill in the blank 33   Factory Overhead fill in the blank 35 fill in the blank 36         f. Finished Goods fill in the blank 38 fill in the blank 39   Work in Process fill in the blank 41 fill in the blank 42         g. Accounts Receivable fill in the blank 44 fill in the blank 45   Sales fill in the blank 47 fill in the blank 48           Cost of Goods Sold fill in the blank 50 fill in the blank 51   Finished 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 (b) fill in the blank 56 (f) fill in the blank 58 (e) fill in the blank 60     Bal. fill in the blank 61     Finished Goods (f) fill in the blank 63 (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. 304 ? ? ? ? No. 306 ? ? ? ? Balance of Work in Process, January 30       ? 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 305) ? ? ? ?

Entries and Schedules for Unfinished Jobs and Completed Jobs

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:

1. Materials purchased on account, $30,580.
2. Materials requisitioned and factory labor used:
   
   

   Job	Materials	Factory Labor
   301	$2,980	$2,560
   302	3,640	3,460
   303	2,410	1,690
   304	8,170	6,350
   305	5,190	4,840
   306	3,780	3,070
   For general factory use	1,010	3,790

3. Factory overhead costs incurred on account, $5,690.
4. Depreciation of factory machinery and equipment, $1,820.
5. The factory overhead rate is $55 per machine hour. Machine hours used:
   
   

   Job	Machine Hours
   301	39
   302	27
   303	34
   304	74
   305	30
   306	18
   Total	222

6. Jobs completed: 301, 302, 303, and 305.
7. Jobs were shipped and customers were billed as follows: Job 301, $9,220; Job 302, $10,300; Job 303, $17,310.

Required:

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

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.

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

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