Krall Company 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, $105,000.
b. Materials requisitioned and factory labor used:



c. Factory overhead costs incurred on account, $4, 125.
d. Depreciation of machinery and equipment, $2,800.
e. The factory overhead rate is $38 per machine hour. Machine hours used:
Job Machine Hours
101 …………... 110
102 …………... 114
103 …………... 90
104 …………... 170
105 …………... 114
106 …………... 124
Total …………. 722
f. Jobs completed: 101, 102, 103, and 105.
g. Jobs were shipped and customers were billed as follows: Job 101, $39,200; Job 102, $50,400; Job 105, $35,400.
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.