Question
Hildreth Company uses a job order cost system. The following data summarize the operations related to production for April, the first month of operations
Print 1. PR. 16-02B ALGO (Algorithmic) Entries and Schedules for Unfinished Jobs and Completed Jobs Hildreth Company uses a j
c. Factory overhead costs incurred on account, $3,720. d. Depreciation of machinery and equipment, $1,600 e. The factory over
Entries Description Debit Credit g. Sale
g. Sale g. Cost 2. Post the appropriate entries to T accounts for Work in Process and Finished Goods, using the ident Work in
Finished Goods 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Hildreth Compa
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Answer #1

1.

Entries Description Debit Credit
a. Materials 3090
Accounts Payable 3090
b Work in Process 36500
Factory overhead
[660+3340]
4000
Materials 17780
Wages Payable 22720
c Factory overhead 3720
Accounts Payable 3720
d Factory overhead 1600
Accumulated depreciation - machinery and equipment 1600
e Work in Process 11460
Factory overhead 11460
f Finished goods 25650
Work in Process 25650
[Jobs no 101,102,103,105]
g sale Accounts receivable 26140
Sales 26140
[6710+7740+11690]
g cost Cost of goods sold 21620
Finished goods 21620

2.

Work in process
(b) 36500 (f) 25650
( e) 11460
Bal 22310
Finished goods
(f) 25650 (g) 21620
Bal. 4030

3.

Schedule of unfinished goods
Direct Materials Direct Labor Factory overhead Total
No. 104 5340 5600 4440 15380
No.106 2480 2710 1740 6930
Balance of work in process, April 30 22310

4.

Schedule of completed jobs
Direct Materials Direct Labor Factory overhead Total
Finished goods, April 30 (Job 103) 1580 1490 960 4030

Workings:

Job Materials Direct Labor Overheads
[Machine hours *60]
Total
101 1950 2260 1380 5590
102 2380 3050 1020 6450
103 1580 1490 960 4030
104 5340 5600 4440 15380
105 3390 4270 1920 9580
106 2480 2710 1740 6930
For general factory 660 3340
Total 17780 22720 11460 47960
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