entries and schedules for unfinished jobs and completed job 408161

Entries and Schedules for Unfinished Jobs and Completed Jobs

Staircase Equipment Company uses ajob order cost system. The following data summarize the operations related to production for April 2012, the first month of operations:

1. Materials purchased on account, $2,340.
2. Materials requisitioned and factory labor used:
   

   Job	Materials		Factory Labor
   No. 301	$3,220		$2,950
   No. 302	3,930		3,980
   No. 303	2,610		1,950
   No. 304	8,820		7,320
   No. 305	5,600		5,580
   No. 306	4,090		3,540
   For general factory use	1,090		4,370

3. Factory overhead costs incurred on account, $6,150.
4. Depreciation of machinery and equipment, $2,090.
5. The factory overhead rate is $70 per machine hour. Machine hours used:
   

   Job	Machine Hours
   No. 301	30
   No. 302	31
   No. 303	22
   No. 304	81
   No. 305	29
   No. 306	42
   Total	235

6. Jobs completed: 301, 302, 303, and 305.
7. Jobs were shipped and customers were billed as follows: Job 301, $9,920; Job 302, $12,100; Job 303, $17,690.

1. Journalize the entries to record the summarized operations. For a compound transaction, if an amount box does not require an entry, leave it blank or enter “0”.