GL0201 (Algo) - Based on Problem 2-2A LO P1, P2, P3, P4 Smith Company shows the following costs for three jobs worked on in April. Additional Information a. Raw Materials Inventory has a March 31 balance of $80,500. b. Raw materials purchases in April are $500,200, and total factory payroll cost in April is $364,100. c. Actual overhead costs incurred in April are indirect materials, $50,100; indirect labor, $23,100; factory rent, $32,100; factory utilities, \$19,100; and factory equipment depreciation, $51,200. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $590,000 cash in April. Complete this question by entering your answers in the tabs below. Prepare journal entries for the month of April's transactions. \begin{tabular}{|c|c|c|c|c|c|} \hline & No & Date & Account Title & Debit & Credit \\ \hline \multirow[t]{3}{*}{i} & 1 & April 30 & Raw materials inventory & 500,200 & \\ \hline & & & Accounts payable & & 500,200 \\ \hline & & & & & \\ \hline \multirow[t]{2}{*}{i} & 2 & April 30 & Work in process inventory & 455,600 & \\ \hline & & & Raw materials inventory & & 455,600 \\ \hline \multirow{3}{*}{1} & & & & & \\ \hline & 3 & April 30 & \begin{tabular}{l} Work in process inventory \\ Cash \end{tabular} & 340,000 & \\ \hline & & & & & 340,000 \\ \hline \multirow[t]{2}{*}{1} & 4 & April 30 & Factory overhead & 50,100 & \\ \hline & & & Raw materials inventory & & 50,100 \\ \hline & 5 & April 30 & Factory overhead & 23,100 & \\ \hline & & & Cash ifin & & 23,100 \\ \hline & & & & . & \\ \hline \multirow[t]{3}{*}{1} & 6 & April 30 & Work in process inventory & 330,000 & \\ \hline & & & Factory overhead & & 330,000 \\ \hline & & & 1. & & \\ \hline \multirow[t]{2}{*}{1} & 7 & April 30 & Factory overhead & 175,600 & \\ \hline & & & Cash & & 175,600 \\ \hline \multirow[t]{2}{*}{1} & 8 & April 30 & Finished goods inventory & 1,115,000 & \\ \hline & Ifi) & & Work in process inventory & & 1,115,000 \\ \hline & 9 & April 30 & Cost of goods sold & 590,000 & \\ \hline & & & Finished goods inventory & & 590,000 \\ \hline & 10 & April 30 & Cash & & \\ \hline \multirow[t]{2}{*}{1} & 11 & April 30 & Cost of goods sold & 4,400 & \\ \hline & & & Factory overhead & & 4,400 \\ \hline \end{tabular} 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. Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods manufactured for Smith Company for the month of April. Combiete this auestion by entering your answers in the tabs below, Select the accounts used in the calculation of aross profic. forer the amount of arosu profit for fimith Company for the inentil of Aori
