GL1501 - Based on Problem 15-1A LO C2, P1, P2, P3, P4 Perry Co's March 31 inventory of raw materials is $140,000Raw materials purchases in April are $650,000, and factory payroll cost in April is $519,000. Overhead costs incurred in April are: indirect materials, $100,000; indirect labor, $59,000, factory rent, $64.000 factory utilities, $43,000; and factory equipment depreciation, $63,000. The predetermined overhead rate is 70% of direct labor cost Job 306 is sold for $940.000 cash in April. Costs of the three jobs worked on in April follow. Job 386 Job 3e7 Job 388 Balances on March 31 Direct materials $ 53, eee $ 71,00 Direct labor 44, eee 30, eee Applied overhead 30, 890 21,eee Costs during April Direct materials 159,000 256,800 $124,000 Direct labor 133,888 210,000 117,000 Applied overhead Finished Finished Status on April 30 In process (soid) (unsold) ? ? 2 Complete this question by entering your answers in the tabs below. General Journal General Ledger Trial Balance Job Costs Requirement Cost of Goods Mfg Gross Profit General Journal tab - Prepare journal entries to record the transactions of Perry Company during the month of April. Job Costs tab - Calculate the total cost, and account classification for each job worked on during April Cost of Goods Manufactured tab - Prepare a schedule of cost of goods manufactured for Perry Company during the month of April Gross Profit tab - Calculate the gross profit on the sale of job(s) during April. Requirement General Journal > Complete this question by entering your answers in the tabs below. General Journal Trial Balance General Ledger Job Costs Gross Profit Cost of Goods Mfg Requirement Prepare journal entries for the month of April's transactions. View transaction list Journal entry worksheet 7 13 .... a. Record the purchase of materials (on crelst). Note: Enter debits before credits. Date Account Title Debit Credit Apr 30 Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Requirement General Journal Gross Profit General Ledger Job Costs Trial Balance Cost of Goods Mfg Dates: Mar 31 to: Apr 30 General Ledger Account Cash Accounts receivable, net Debit Credit No. Debit Credit Balance No. Date Mar 31 Balance 570,000 Date Mar 31 228,000 Raw materials inventory Debit Work in process inventory Debit Credit No. Credit No. Date Mar 31 Balance 140.000 Date Mar 31 Balance 249,800 Factory Equipment Debit Credit No. Date Mar 31 Balance 630,000 No. Accumulated depreciation - Factory equipment Date Debit Credit Balance Mar 31 180,000 Accounts payable Debit Credit Common stock, 65 par value Debit Credit No. No. Date Mar 31 Balance 69,000 Date Mar 31 Balance 262,000 Paid-in capital in excess of par. Common Date Debit Credit Balance Mar 31 162,000 Retained earnings Debit Credit No. No. Date Mar 31 Balance 1.135,800 Complete this question by entering your answers in the tabs below. General Journal Requirement General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Dates: Mar 31 to: Apr 30 Perry Company Trial Balance April 30, 2019 Account Title Debit Credit $ 570,000 228,000 140,000 249,800 630,000 FA Cash Accounts receivable, net Raw materials inventory Work in process inventory Factory Equipment Accumulated depreciation - Factory equipment Accounts payable Common stock, $5 par value Paid-in capital in excess of par - Common Retained earnings Total 189,000 69,000 262,000 162,000 1,135,800 1,817,800 $ 1,817,800 $ General General Cost of Goods Requirement Trial Balance Job Costs Gross Profit Journal Ledger Mfg 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. Dates: Mar 31 to: Apr 30 Job 306 Job 307 Job 308 April Total Beginning Work in Process (March costs) Direct materials $ 53,000 $ 71.000 Direct labor 14.000 30,000 Applied overhead 30,800 21,000 Total Beginning Work in Process inventory 127,800 122,000 $ 249,800 Costs added in April Direct materials Direct labor Applied overhead Total costs added in April 159.000 $ 133.000 256,000 210,000 124,000 117,000 539,000 400,000 Total cost of jobs At the end of April, indicate which account should indude each job's costs Complete this question by entering your answers in the tabs below. Gross Profit Mfg General General Requirement Ledger Trial Balance Job Costs Cost of Goods Journal Select the accounts used in the calculation of gross profit. Enter the amount of gross profit for Perry Company for the month of April. Dates: Mar 31 to: Apr 30 Gross profit
Complete this question by entering your answers in the tabs below. General Journal Trial Balance General Ledger Job Costs Gross Profit Cost of Goods Mfg Requirement Prepare journal entries for the month of April's transactions. View transaction list Journal entry worksheet 7 13 .... a. Record the purchase of materials (on crelst). Note: Enter debits before credits. Date Account Title Debit Credit Apr 30 Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Requirement General Journal Gross Profit General Ledger Job Costs Trial Balance Cost of Goods Mfg Dates: Mar 31 to: Apr 30 General Ledger Account Cash Accounts receivable, net Debit Credit No. Debit Credit Balance No. Date Mar 31 Balance 570,000 Date Mar 31 228,000 Raw materials inventory Debit Work in process inventory Debit Credit No. Credit No. Date Mar 31 Balance 140.000 Date Mar 31 Balance 249,800 Factory Equipment Debit Credit No. Date Mar 31 Balance 630,000 No. Accumulated depreciation - Factory equipment Date Debit Credit Balance Mar 31 180,000 Accounts payable Debit Credit Common stock, 65 par value Debit Credit No. No. Date Mar 31 Balance 69,000 Date Mar 31 Balance 262,000 Paid-in capital in excess of par. Common Date Debit Credit Balance Mar 31 162,000 Retained earnings Debit Credit No. No. Date Mar 31 Balance 1.135,800 Complete this question by entering your answers in the tabs below. General Journal Requirement General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Dates: Mar 31 to: Apr 30 Perry Company Trial Balance April 30, 2019 Account Title Debit Credit $ 570,000 228,000 140,000 249,800 630,000 FA Cash Accounts receivable, net Raw materials inventory Work in process inventory Factory Equipment Accumulated depreciation - Factory equipment Accounts payable Common stock, $5 par value Paid-in capital in excess of par - Common Retained earnings Total 189,000 69,000 262,000 162,000 1,135,800 1,817,800 $ 1,817,800 $ General General Cost of Goods Requirement Trial Balance Job Costs Gross Profit Journal Ledger Mfg 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. Dates: Mar 31 to: Apr 30 Job 306 Job 307 Job 308 April Total Beginning Work in Process (March costs) Direct materials $ 53,000 $ 71.000 Direct labor 14.000 30,000 Applied overhead 30,800 21,000 Total Beginning Work in Process inventory 127,800 122,000 $ 249,800 Costs added in April Direct materials Direct labor Applied overhead Total costs added in April 159.000 $ 133.000 256,000 210,000 124,000 117,000 539,000 400,000 Total cost of jobs At the end of April, indicate which account should indude each job's costs Complete this question by entering your answers in the tabs below. Gross Profit Mfg General General Requirement Ledger Trial Balance Job Costs Cost of Goods Journal Select the accounts used in the calculation of gross profit. Enter the amount of gross profit for Perry Company for the month of April. Dates: Mar 31 to: Apr 30 Gross profit
