Callahan Co.'s March 31 inventory of raw materials is $165.000. Raw materials purchases in April are $690,000, and factory payroll cost in April is $584,000. Overhead costs incurred in April are Indirect materials, 5104,000; Indirect labor, $74.000; factory rent, $70,000, factory utilities, $53.000; and factory equipment depreciation, $68,000. The predetermined overhead rate is 70% of direct labor cost Job 306 is sold for $1,070,000 cash in April. Costs of the three jobs worked on in April follow. Jab 306 Job 307 Job 308 $ 63,000 54,000 37.800 $ 16,000 35,000 24,500 Balances on March 31 Direct materials Direct labor Applied overhead Couts during April Direct materiala Direct labor Applied overhead Status on April 30 169,000 153,000 271,000 235,000 $134,000 122.000 ? In process Finished (sold) Finished (unsold) Complete this question by entering your answers in the tabs below. Requirement General Journal General Ledger Tral Balance Job Costs Cost of Goods Mfg Gross Profit Dates: Mar 31 to: Apr 30 General Ledger Account Cash No. Accounts receivable, net Debit Credit Date Debit Credit No. Mar 31 Balance 620,000 Date Mar 31 Balance 248,000 Raw materials inventory Debit Credit Work in process inventory Debit Credit No. No. Date Mar 31 Balance 165,000 Date Mar 31 Balance 300,300 Factory Equipment Debit Credit No. No. Date Mar 31 Balance 680.000 Accumulated depreciation - Factory equipment Date Debit Credit Balance Mar 31 204,000 Accounts payable Common stock, 55 par value No. Debit Credit No. Debit Credit Date Mar 31 Balance 79.000 Date Mar 31 Balance 267,000 No. Paid-in capital in excess of par - Common Date Debit Mar 31 Retained earnings Debit Credit Credit No. Date Balance 167.000 Balance 1,296,300 Mar 31 Complete this question by entering your answers in the tabs below. Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Dates: Mar 31 to: Apr 30 Callahan Company Trial Balance April 30, 2019 Credit Account Title $ Dobit 620,000 248,000 165,000 300,300 680,000 Cash Accounts receivable, net Raw materials inventory Work in process inventory Factory Equipment Accumulated depreciation - Factory equipment Accounts payable Common stock, $5 par value Paid-in capital in excess of par - Common Retained earings 204.000 79,000 267,000 167.000 1,296,300 2,013,300 2,013,300 s Complete this question by entering your answers in the tabs below. General General Cost of Goods Requirement Trial Balance Ledger Job Costs Gross Pront Journal Mfg Calculate the amount of overhead to be applied to each of the jobs worked on during April. Then, using the drop-downs, indicate which account in the ledger should include the job's costs as of April 30. Dates: Mar 31 to: Apr 30 Job 306 Job 307 Job 300 April Total $ Beginning Work In Process (March costs) Direct materials Direct labor Applied overhead Total Beginning Work in Process inventory 63,000 $ 54,000 37,800 154,800 88,000 35,000 24,500 145,500 $ 300,300 $ 169,000 $ 153,000 271.000 235,000 134,000 122,000 574,000 510,000 Costs added in April Direct materials Direct labor Applied overhead Total costs added in April 0 322,000 506,000 256,000 S 1,084,000 Total cost of jobs At the end of April, indicate which account should include each job's costs (bunu) Process Complete this question by entering your answers in the tabs below. Requirement General General Journal Cost of Goods Trial Balance Ledger Job Costs Gross Profit Prepare a schedule of cost of goods manufactured for Callahan Company for the month of April. Mf9 Dates: Mar 31 to: Apr 30 CALLAHAN COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs added during April Total cost of work in process Complete this question by entering your answers in the tabs below. General General Cost of Goods Requirement Trial Balance Job Costs Journal Gross Profit Ledger Mfg Select the accounts used in the calculation of gross profit. Enter the amount of gross profit for Callahan Company for the month of April. Dates: Mar 31 to: Apr 30 0 0 Gross profit
