Can someone please take me through these questions! I feel like I have no idea where to start OR how to calculate the production costs. PLEASE HELP ME TO UNDERSTAND WHERE TO BEGIN WITH THIS QUESTION: I do not need the entire question answered JUST AN EXPLANATION OF AT LEAST #1 so I understand where I am going

Pocalla Inc.'s April 30 inventory of raw materials is $103,000. Raw materials purchases in May are $550,000 and factory payroll cost in May is $392,000. Overhead costs incurred in May are indirect materials, $60,000; indirect labor, $35,000; factory rent, $30,000; factory utilities, $26,000; and factory equipment depreciation, $55,000. The predetermined overhead rate is 60% of direct labor cost. Job 401 is sold for $650,000 cash in May. Costs of the three jobs worked on in May are as follows:

Job 401 Job 402 Job 403 May Total

Balances as on April 30

Direct Materials 53,000 42,000

Direct Labor 25,000 17,000

Applied Overhead 13,000 9,600

Beginning goods in process 91,000 68,600

Cost During May

Direct Materials 145,000 205,000 $110,000

Direct Labor 105,000 152,000 $106,000

Applied Overhead ? ? ?

Total cost added in May

Total costs onMay 31st

Status on May 31st Finished (Sold) Finished (unsold) In Process

May 31 cost Cost of goods sold Finished goods Inventory Work in process

1. Determine the total of each production cost incurred for May (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from April 30).
2. do the journal entries for the following:

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 401 and 402 to Finished Goods Inventory.

h. Cost of goods sold for Job 401.

i. Revenue from the sale of Job 401.

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