Tybee Industries Inc. uses a job order cost system. The following data summarize the operations related to production for January 2016, the first month of operations:
a. Materials purchased on account, $29,800.
b. Materials requisitioned and factory labor used:

c. Factory overhead costs incurred on account, $5,500.
d. Depreciation of machinery and equipment, $1,980.
e. The factory overhead rate is $54 per machine hour. Machine hours used:
Job Machine Hours
301 ...................... 25
302 ...................... 36
303 ...................... 30
304 ...................... 72
305 ...................... 40
306 ...................... 25
Total ...................... 228
f. Jobs completed: 301, 302, 303 and 305.
g. Jobs were shipped and customers were billed as follows: Job 301, $8,250; Job 302, $11,200; Job 303, $15,000.
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 transaction codes. 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.

Job 301 302 303 304 305 306 For general factory use Materials 2,960 3,620 2,400 8,100 5,100 3,750 1,080 Factory Labor $2,775 3,750 1,875 6,860 5,250 3,340 4,100