b. Raw materials purchases in April are $500,200, and total factory payroll cost in April is $364,100. c. Actual overhead costs incurred in April are indirect materials, $50,100; indirect labor, $23,100; factory rent, $ utilities, $19,100; and factory equipment depreciation, $51,200. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $590,000 cash in April. Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods manufactured for Smith Company for the month of April. Journal entry worksheet c. Record direct labor used (and paid in cash) and assigned to Work in Process Inventory. Note: Enter debits before credits. Prepare journal entries for the month of April's transactions. Journal entry worksheet 1 2 3. 4 5 6. 7 h. Record the transfer of Jobs 306 and 307 to Finished Goods Inventory. Note: Enter debits before credits. Prepare journal entries for the month of April's transactions. Journal entry worksheet (1) 6 8 9 j. Record the revenue from the sale of Job 306 received in cash. Note: Enter debits before credits. Prepare journal entries for the month of April's transactions. Journal entry worksheet (1) (2) 3 (4) (5) (6.) 8 11 g. Record the actual other overhead costs incurred. (Factory rent and utilities are paid in cash.) Note: Enter debits before credits. Additional Information a. Raw Materials Inventory has a March 31 balance of $80,500. b. Raw materials purchases in April are $500,200, and total factory payroll cost in April is $364,100. c. Actual overhead costs incurred in April are indirect materials, $50,100; indirect labor, $23,100; factory rent, $32,100;f utilities, \$19,100; and factory equipment depreciation, $51,200. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $590,000 cash in April. Complete this question by entering your answers in the tabs below. Select the accounts used in the calculation of gross profit. Enter the amount of gross profit for Smith Company for the month of April. Prepare journal entries for the month of April's transactions. Journal entry worksheet k. Record the close underapplied or overapplied overhead to the Cost of Goods Sold account. Note: Enter debits before credits. Journal entry worksheet (1) 2 4 5 78 f. Record the overhead costs applied to Work in Process Inventory. Note: Enter debits before credits. e. Job 306 is sold for $590,000 cash in April. Complete this question by entering your answers in the tabs below. Calculate the amount of overhead to be applled to each of the jobs worked on during April. Then, using the drop-downs, indicar which account in the ledger should include the job's costs as of April 30. Prepare journal entries for the month of April's transactions. Journal entry worksheet Note: Enter debits before credits. GL0201 (Algo) - Based on Problem 2-2A LO P1, P2, P3, P4 Smith Company shows the following costs for three jobs worked on in April. Additional Information a. Raw Materials Inventory has a March 31 balance of $80,500. b. Raw materials purchases in April are $500,200, and total factory payroll cost in April is $364,100. c. Actual overhead costs incurred in April are indirect materials, $50,100; indirect labor, $23,100; facto utilities, \$19,100; and factory equipment depreciation, $51,200. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $590,000 cash in April. Complete this question by entering your answers in the tabs below
