Carey Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials (in March) $ 79,000 $ 110,000 Direct labor (in March) 70,000 43,000 Applied overhead (March) 49,000 30, 100 Costs during April Direct materials 185,000 295,000 $ 150,000 Direct labor 185,000 275,000 130,000 Applied overhead ? ? Finished Status on April 30 Finished (sold) (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $205,000. b. Raw materials purchases in April are $760,000, and total factory payroll cost in April is $688,000. C. Actual overhead costs incurred in April are indirect materials, $117,000; Indirect labor, $98,000; factory rent $63,000; factory utilities. $69,000; and factory equipment depreciation, $132,000. d. Predetermined overhead rate is 70% of direct labor cost. e. Job 306 is sold for $1,270,000 cash in April. Prepare journal entries for the month of April's transactions, No 1 Account Title Credit Date April 30 Debit 750,000 Raw materials inventory Accounts payable 760,000 2 April 30 630,000 Work in process inventory Raw materials inventory 630,000 April 30 Work in process inventory Cash 450,000 450.000 4 April 30 117,000 Factory overhead Raw materials inventory 3 117,000 5 April 30 98,000 Factory overhead Cash 98,000 6 April 30 Work in process inventory Factory overhead 7 April 30 Factory overhead Cash Accumulated depreciation - Factory equipment 132,000 132,000 8 April 30 Finished goods inventory Work in process inventory 9 April 30 Cost of goods sold Finished goods inventory 10 April 30 Cash 1,270,000 > > Sales 1,270,000 9 April 30 Cost of goods sold Finished goods inventory 10 1,270,000 April 30 Cash Sales 1.270.000 11 April 30 Cost of goods sold Factory overhead