Fisher Co.’s March 31 inventory of raw materials is $225,000. Raw materials purchases in April are $790,000, and factory payroll cost in April is $740,000. Overhead costs incurred in April are: indirect materials, $119,000; indirect labor, $110,000; factory rent, $132,000; factory utilities, $77,000; and factory equipment depreciation, $80,000. The predetermined overhead rate is 80% of direct labor cost. Job 306 is sold for $1,430,000 cash in April. Costs of the three jobs worked on in April follow.

	Job 306				Job 307				Job 308
Balances on March 31
Direct materials		$	87,000			$	122,000
Direct labor			78,000				47,000
Applied overhead			62,400				37,600
Costs during April
Direct materials			193,000				307,000			$	158,000
Direct labor			201,000				295,000				134,000
Applied overhead			?				?				?
Status on April 30	Finished (sold)				Finished (unsold)					In process

1. Prepare Journal entries for the month of April's transactions.

2. General Ledger and Trial Balance

3. 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.

4. Prepare a schedule of cost of goods manufactured for Fisher Company for the month of April.

5. Select the accounts used in the calculation of gross profit. Enter the amount of gross profit for Fisher Company for the month of April.