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Cecconi Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials (in March) Direct labor (in March)
Cecconi Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials (in March) Direct labor (in March) Applied overhead (March) Costs during April Direct materials Direct labor Applied overhead Status on April 30 Additional Information 19,100 9,550 Job 306 Job 307 Job 308 $ 31,200 22,200 $ 38,300 11,100 137,200 89,400 ? 223,300 155,500 $ 101,100 106,100 ? Finished (sold) Finished (unsold) In process a. Raw Materials Inventory has a March 31 balance of $85,500. b. Raw materials purchases in April are $502,200, and total factory payroll cost in April is $375,100 c. Actual overhead costs incurred in April are indirect materials, $51,100; Indirect labor, $24,100; factory rent, $33,100; factory utilities, $20,100; and factory equipment depreciation, $53,200. d. Predetermined overhead rate is 50% of direct labor cost e. Job 306 is sold for $620,000 cash in April. 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 Prepare journal entries for the month of April's transactions. View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 8 11 a. Record the purchase of materials (on credit). Journal Ledger inal balance JOD Costs Mfg Gross Profit 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. Job 306 Job 307 Job 308 April Total Beginning Work in Process (March costs) Direct materials $ 31,200 $ 38,300 Direct labor 22,200 19,100 Overhead applied Total Beginning Work in Process inventory Costs added in April 11,100 9,550 64,500 66,950 $ 131,450 Direct materials Direct labor Overhead applied Total costs added in April Total cost of jobs At the end of April, indicate which account should include each job's costs. $ 137,200 $ 223,300 101,100 461,600 89,400 155,500 106,100 351,000 Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Prepare a schedule of cost of goods manufactured for Cecconi Company for the month of April. CECCONI COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs added during April Total cost of work in process Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Select the accounts used in the calculation of gross profit. Enter the amount of gross profit for Cecconi Company for the month of April. Gross profit
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