GLO201 (Algo) - Based on Problem 2-2A LO P1, P2, P3, P4 - Williams Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 $ 34,200 25,200 12,600 $ 42,800 20,600 10,300 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 30 140,200 95,400 ? Finished (sold) 227,800 163,000 2 Finished (unsold) $ 102,600 107,600 2 In process Additional Information tes a. Raw Materials Inventory has a March 31 balance of $93,000. b. Raw materials purchases in April are $505,200, and total factory payroll cost in April is $391,600. c. Actual overhead costs incurred in April are Indirect materials, $52,600; indirect labor, $25,600; factory rent, $34,600 utilities, $21,600; and factory equipment depreciation, $56,200. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $650,000 cash in April. Complete this question by entering your answers in the tabs below. General Requirement General Trial Balance Journal Ledger Job Costs Prepare journal entries for the month of April's transactions. Cost of Goods Mfg Gross Profit View transaction list Journal entry worksheet 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 View journal entry worksheet No Date Account Title 1 Debit Credit April 30 Raw materials inventory Accounts payable 505,200 505,200 2 April 30 Factory Equipment Requirement General Ledger > 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 Calculate the amount of overhead to be applied to each of the jobs worked on during April. Then, using the dro which account in the ledger should include the job's costs as of April 30. Job 306 Job 307 Job 308 April Total + $ 34,200 $ 25,200 12,600 72,000 42,800 20,600 10,300 73,700 $ 145,700 Beginning Work in Process (March costs) Direct materials Direct labor Overhead applied Total Beginning Work in Process inventory Costs added in April 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. $ 140,200 $ 95,400 227,800 163,000 102,600 107,600 470,600 366,000 0 235,600 390,800 210,200 $ 836,600 utilities, $21,600; and factory equipment depre d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $650,000 cash in April. Complete this question by entering your answers in the tabs below. General Journal General Ledger Trial Balance Job Costs Requirement Gross Profit Cost of Goods Mfg Prepare a schedule of cost of goods manufactured for Williams Company for the month of April. WILLIAMS COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs added during April Total cost of work in process 12,600 10,300 Applied overhead (March) Costs during April Direct materials Direct labor Applied overhead Status on April 30 140,200 95,400 ? Finished (sold) 227,800 163,000 2 Finished (unsold) $ 102,600 107,600 ? In process Additional Information a. Raw Materials Inventory has a March 31 balance of $93,000. b. Raw materials purchases in April are $505,200, and total factory payroll cost in April is 391,600. c. Actual overhead costs incurred in April are indirect materials, $52,600; indirect labor, $25,600; factory utilities, $21,600; and factory equipment depreciation, $56,200. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $650,000 cash in April. Complete this question by entering your answers in the tabs below. Les 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 Williams the month of April. 0 0 Gross profit