Sinatra Industries Inc. uses a job order cost system. The following data summarize of operations related to production for January 2014, the first month of operations: Materials purchased on account, $39,300. Materials requisitioned and factory labor used: Factory overhead costs incurred on account, $7,500. Depreciation of machinery and equipment, $2,640. The factory overhead rate is $60 machine hour. Machine hour used used: Jobs completed: 201, 202, 203, and 205. Jobs were shipped and customers were billed as follows: Job 201, $11,000: Job 202, $14,820; Job 203. $19,920. Journalize entries to record the summarized operations. 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. prepare a schedule of unfinished jobs to support the balance in the work in process account. Prepare a schedule of completed jobs on hand to support the balance in finished goods account. Solution To work in Process A/c      $90600 To Material A/c 15800 To direct labour A/c 13600 To Factory Overheads A/c 7620 To Finished Goods A/c    90600 .