a Homework Assignment CengageNO eBook Printem Job Cost Pows, Journal Entries On April 1. Sangvikar Company had the following balances in its inventory accounts: Materials Inventory $12,760 Work in Process Inventory 21,320 Finished Goods Inventory 8,800 Worle-in-process inventory is made up of three jobs with the following costs: Job Job Job 114 115 116 Direct materials 52,774 $2,640 $3,650 Direct labor 1,800 1,560 4,300 Applied Overhead 1,080 936 2,580 During April, Sangvikar experienced the transactions listed below. a. Materials purchased on account, $25,000 b. Materials requisitioned: Job 114, 516,500, Job 115, $12,000, and Job 116, 55,000. Job tickets were collected and summarized: Job 114, 150 hours at $12 per hour; Job 115, 220 hours at 515 per hour, and Job 116, 0 hours at $18 per hout d. Overhead is applied on the basis of direct labor cost Actual overhead was 54,231 1. Job 115 was completed and transferred to the finished goods warehouse 9 (1) Job 115 was shipped, and (2) the customer was bad for 125 percent of the cost Required: Hequired: 1. Prepare journal entries for the April transactions, Materials 20.000 Accounts Payable 20.000 b. Work in Process Materiais 33.700 33.700 c. Work in Process Wages Payable 6.5-40 6.540 d. Work in Process Overhead Control 4.979 X 4,979 x e. Overhead Control Various Accounts 1.924 3.924 1. Finished Goods Work in Process 4,415 4,415 g (1). Cost of Goods Sold Finished Goods 23,514 23.534 19.4INX 9 (2). Accounts Receivable Sales Revenue 29,418 x 2. Calculate the ending balances of each of the inventory accounts as of April 30. Post the entries to the accounts in the same order in which they were journaled Materials Feedback Check My Work The une of accounts would provide a good picture of balances and transactions for the month ending in an Aont 3 balance member to focus on the normal dance of the Work in Process Feedback Check My Work The use of accounts would provire a good picture of balances and transactions for the month ending in an April 30 balance. Remember to focus on the normal balance of the ac when posting the joumalized transactions Finished Goods