pr 19 - 2a entries and schedules for unfinished jobs and completed jobs

Project Description:

pr 19 - 2a entries and schedules for unfinished jobs and completed jobs
sinatra industries, inc. uses a job order cost system. the following data summarizes the
operations related to production for june 2012, the first month of operations:
a. materials purchased on account, $32,760.
b. materials rquisitioned and factor labor used:
job materials factor labor
301 3,290 3,080
302 4,025 4,160
303 2,660 2,080
304 9,030 7,640
305 5,740 5,810
306 4,172 3,710
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.
usig 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. prepared a schedule of completed jobs on hand to support the balance in the finished goods account.
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Price Type: Negotiable

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