6-29 Appendix P. Journal Entr Costs LO2, LOS The following transactions occurred during the month of April for Kearney Company. a. Materials costing $3,000 were purchased on account. b. Materials totaling $1,700 were requisitioned for use in production, $500 for Job #443 and the remainder for Job #444. c. During the month, direct laborers worked 50 hours on Job #443 and 100 hours on Job #444. Direct laborers are paid at the rate of $8 per hour. d. Overhead is applied using a plantwide rate of $7.50 per direct labor hour. e Actual overhead for the month was $1,230 and was paid in cash. f. Job #443 was completed and transferred to Finished Goods. g. Job #442, which had been completed and transferred to Finished Goods in March, was sold on account for cost ($2,000) plus 25 percent. Required 1. Prepare journal entries for transactions (a) through (e). 2. Prepare job-order cost sheets for Jobs #443 and #444. Prepare journal entries for transactions (f) and (8). 3. Prepare a schedule of cost of goods manufactured for April. Assume that the beginning balance in the materials account was $1,400 and the beginning bal- ance in the work-in-process account was zero