GLO201 (Algo) - Based on Problem 2-2A LO P1, P2, P3, P4 Cecconi Company shows the following costs for three jobs worked on in April. Job 306 Job 387 Job 308 Balances on March 31 Direct materials (in March) $ 51,898 $ 58,00 Direct labor (in March) 42,800 29,000 Applied overhead (March) 29,498 20,300 Costs during April Direct materials 157,808 253,000 $ 122,000 Direct labor 129,808 205,000 116,00 Applied overhead ? ? Finished Finished Status on April 30 (sold) (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $135,000. b. Raw materials purchases in April are $640,000, and total factory payroll cost in April is $506,000. c. Actual overhead costs incurred in April are indirect materials. $97,000: indirect labor, $56,000; factory rent. $65.000; factory utilities. $41,000: and factory equipment depreciation. $106.000. d. Predetermined overhead rate is 70% of direct labor cost. e. Job 306 is sold for $910,000 cash in April. Answer is not complete. Complete this question by entering your answers in the tabs below. 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. No Date Account Title Debit Credit 1 April 30 No journal entry required X 2 X April 30 No journal entry required 3 April 30 No journal entry required x 4 April 30 Cash X 5 X April 30 No journal entry required 6 April 30 No journal entry required X 7 X April 30 Accounts receivable, net 00 April 30 Raw materials inventory X April 30 No journal entry required 10 April 30 Cash 11 April 30 Cash Complete this question by entering your answers in the tabs below. Requirement General General Journal Ledger Trial Balance Cost of Goods Job Costs MfG Gross Profit Calculate the amount of overhead to be applied to each of the jobs worked on during April. Then, using the drop-dow which account in the ledger should include the job's costs as of April 30. Job 306 Job 307 Job 308 April Total Beginning Work in Process (March costs) Direct materials $ 51,000 42,000 29,400 122,400 68,000 29,000 20,300 117,300 S 239,700 S 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. 157,000 $ 129.000 253,000 205,000 122,000 116,000 532,000 450.000 0 982,000 286,000 458,000 238,000 Complete this question by entering your answers in the tabs below. Requirement General General Trial Balance Job Costs Cost of Goods Gross Profit Journal Ledger Mfg Prepare a schedule of cost of goods manufactured for Cecconi Company for the month of April. CECCONI COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs added during April Total cost of work in process Job Costs Gross Profit > Complete this question by entering your answers in the tabs below. General General Requirement Cost of Goods Trial Balance Job Costs Journal Ledger Mfg Gross Profit Select the accounts used in the calculation of gross profit. Enter the amount of gross profit for Cecconi Company fe the month of April. 0 Gross profit
