Blink, Inc is a manufacturer that uses a job order costing system At the beginning of April 2020, Blink had two jobs in process, Job V and Job W During April 2020, Blink continued working on Job V and W, but also began working on 3 additional jobs Job X, Job Y, and Job Z Costs for these five jobs are listed below Job V Job W Job X Job Y Job Z Balances on April 1, 2020 Direct materials $7,000 $11,600 $0 $0 $0 Direct labor $3,100 $5,940 $0 $0 $0 Applied OH (75 of DL) $2,325 $4,455 $0 $0 $0 Costs incurred during April Direct materials $29,575 $34,995 $21,530 $37,410 $9,005 Direct labor $16,400 $20,500 $9,620 $18,020 $2,980 Applied OH (75 of DL cost) $ $ $ $ $ Status on April 30, 2020 Finished (unsold) Finished (sold) In process Finished (unsold) In process Blink provided additional information for April Job W was sold to a customer on account for $135,000 in April Raw materials inventory (direct and indirect), beginning balance on 4 1 2020 $39,440 Raw materials (direct and indirect) purchased in April 2020 $126,950 Finished goods inventory, beginning balance on 4 1 2020 $0 Actual Factory OH costs incurred in April Indirect materials $4,033 Indirect labor $7,085 Factory rent $7,200 Factory utilities $780 Factory equipment depreciation $31,500 The predetermined OH rate is 75 of DL costs (1pt) Determine The amount of Factory OH applied to each job during April (8pts) Prepare journal entries for the month of April to record the below transactions (make sure to use proper journal entry formatting and include a brief description of each entry) Raw materials purchases (on credit) Direct materials used in production during April Direct labor used in production during April (credit Factory Wages Payable) Overhead costs applied during April Transfer of Jobs V, W, and Y to Finished Goods Inventory Revenue from the sale of Job W Cost of goods sold for Job W Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account (Assume the amount is not material) (3pts) Determine the April 30 th balances of the firms three inventory accounts Raw Materials Inventory account Work in Process (WIP) Inventory account Finished Goods Inventory account

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Blink, Inc. is a manufacturer that uses a job-order costing system. At the beginning of April 2020, Blink had two jobs in process, Job V

Blink, Inc. is a manufacturer that uses a job-order costing system. At the beginning of April 2020, Blink had two jobs in process, Job V and Job W. During April 2020, Blink continued working on Job V and W, but also began working on 3 additional jobs: Job X, Job Y, and Job Z. Costs for these five jobs are listed below:

	Job V	Job W	Job X	Job Y	Job Z
Balances on April 1, 2020:
Direct materials	$7,000	$11,600	$0	$0	$0
Direct labor	$3,100	$5,940	$0	$0	$0
Applied OH (75% of DL)	$2,325	$4,455	$0	$0	$0
Costs incurred during April
Direct materials	$29,575	$34,995	$21,530	$37,410	$9,005
Direct labor	$16,400	$20,500	$9,620	$18,020	$2,980
Applied OH (75% of DL cost)	$?	$?	$?	$?	$?
Status on April 30, 2020	Finished (unsold)	Finished (sold)	In process	Finished (unsold)	In process

Blink provided additional information for April:

Job W was sold to a customer on account for $135,000 in April
Raw materials inventory (direct and indirect), beginning balance on 4/1/2020: $39,440
Raw materials (direct and indirect) purchased in April 2020: $126,950
Finished goods inventory, beginning balance on 4/1/2020: $0
Actual Factory OH costs incurred in April: Indirect materials = $4,033; Indirect labor = $7,085; Factory rent = $7,200; Factory utilities = $780; Factory equipment depreciation = $31,500
The predetermined OH rate is 75% of DL costs.

(1pt) Determine: The amount of Factory OH applied to each job during April.
(8pts) Prepare journal entries for the month of April to record the below transactions (make sure to use proper journal entry formatting and include a brief description of each entry).
Raw materials purchases (on credit).
Direct materials used in production during April.
Direct labor used in production during April (credit Factory Wages Payable).
Overhead costs applied during April.
Transfer of Jobs V, W, and Y to Finished Goods Inventory.
Revenue from the sale of Job W.
Cost of goods sold for Job W.
Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account (Assume the amount is not material).

(3pts) Determine the April 30^th balances of the firms three inventory accounts:
1. Raw Materials Inventory account
2. Work in Process (WIP) Inventory account
3. Finished Goods Inventory account