a. Materials purchases (on credit).

b. Direct materials used in production.

c. Direct labor paid and assigned to Work in Process Inventory.

d. Indirect labor paid and assigned to Factory Overhead.

e. Overhead costs applied to Work in Process Inventory.

f. Actual overhead costs incurred, including indirect materials. (Factory rent and utilities are paid in cash.)

g. Transfer of Jobs 306 and 307 to Finished Goods Inventory.

h. Cost of goods sold for Job 306. i. Revenue from the sale of Job 306.

j. Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. (The amount is not material.)

2. Prepare journal entries for the month of April to record the above transactions.

Job 306 Job 307 Job 308 Balances on March 3T Direct materials Direct labor Applied overhead 26,000 23,000 11,500 38,000 18,000 9,000 Costs during April Direct materials Direct labor Applied overhead 130,000 103,000 210,000 152,000 $110,000 105,000 Status on April 30 Finished (sold) Finished (unsold) In process