job order costing

Project Description:

pr 1 9-2a entries and schedules for unfinished jobs and completed jobs.

sinatra industries, inc. uses a job order cost system. the following data summarize the
operations related to production for june 2012, the first month of operations:
a. materials purchased on account, $32,760.
b. materials requisitioned and factory labor used:
job materials factory labor
301 $3,290 $3,080
302 4,025 4,1 60
303 2,660 2,080
304 9,030 7,640
305 5,740 5,81 0
306 4,1 70 3,71 0
for general factory use 1 ,200 4,550
c. factory overhead costs incurred on account, $6,300.
d. depreciation of machinery and equipment, $2,200.
e. the factory overhead rate is $58 per machine hour. machine hours used:

job machine hours
301 26
302 38
303 30
304 80
305 40
306 26
total 240
f. jobs completed: 301, 302, 303, and 305.
g. jobs were shipped and customers were billed as follows: job 301, $9,150; job 302,
$12,350; job 303, $16,600.
instructions
1. journalize the entries to record the summarized operations.
2. post the appropriate entries to t accounts for work in process and finished goods,
using the identifying letters as dates. 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.
Skills Required:
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