Fox 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) Direct labor (in March) Applied overhead (March) Costs during April Direct materials Direct labor Applied overhead $ 32,200 23,200 11,600 $ 39,800 19,600 9,800 138,200 91,400 ? Status on April 30 Additional Information Finished (sold) 224,800 158,000 ? Finished (unsold) $ 101,600 106,600 ? In process a. Raw Materials Inventory has a March 31 balance of $88,000. b. Raw materials purchases in April are $503,200, and total factory payroll cost in April is $380,600. c. Actual overhead costs incurred in April are indirect materials, $51,600; indirect labor, $24,600; factory rent, $33,600; factory utilities, $20,600; and factory equipment depreciation, $54,200. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $630,000 cash in April. 1 N a. Record the purchase of materials (on credit). b. Record the direct materials used. c. Record direct labor used (and paid in cash) and assigned to Work in Process Inventory. d. Record the indirect materials used and assigned to Factory Overhead. e. Record the indirect labor used (and paid in cash) and assigned to Factory Overhead. 60 f. Record the overhead costs applied to Work in Process Inventory. g. Record the actual other overhead costs incurred. (Factory rent and utilities are paid in cash.) h. Record the transfer of Jobs 306 and 307 to Finished Goods Inventory. i. Record the cost of goods sold for Job 306. 10 j. Record the revenue from the sale of Job 306 received in cash. 11 k. Record the close underapplied or overapplied overhead to the Cost of Goods Sold account. Job 306 Job 307 Job 308 April Total Overhead applied Total Beginning Work in Process inventory Beginning Work in Process (March costs) Direct materials $ 32,200 $ 39,800 Direct labor 23,200 19,600 11,600 9,800 67,000 69,200 $ 136,200 Costs added in April Direct materials $ 138,200 $ 224,800 101,600 464,600 Direct labor 91,400 158,000 106,600 356,000 Overhead applied 45,700 79,000 124,700 Total costs added in April 275,300 461,800 208,200 $ 945,300 Total cost of jobs $ 342,300 $ 531,000 $ 1,081,500 At the end of April, indicate which account should include each job's costs. Finished goods inventory Work in process inventory FOX COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs added during April Total cost of work in process 0 Gross profit