sinatra industries, inc. for unfinished jobs and completed jobs

Project Description:

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:

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: completed: 301, 302, 303, and 305. were shipped and customers were billed as follows: job 301, $9,150; job 302, $12,350; job 303, $16,600.

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".
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.
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Project Stats:

Price Type: Negotiable

Total Proposals: 12
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