GLO201 (Algo) - Based on Problem 2-2A LO P1, P2, P3, P4 Sweet Company shows the following costs for three jobs worked on in April Job 106 Job 307 Job Des 5 32.800 23.800 11.900 $ 40,700 19,900 9.950 Balances on March 31 Direct materials (in March) Direct labor (in March) Applied overhead (Mark) Costs during April Direct tecials Direct labor Applied overhead Status on April 30 138.000 92,600 225.700 159.500 $ 101,900 106,900 Fished (solo) Finished (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $89,500 b. Raw materials purchases in April are $503,800, and total factory payroll cost in April is $383.900 Actual overhond costs incurred in April are indirect materials. $61,900 Indirect labor, $24.900, factory rent. $33,900.factory utilitles, $20.900; and factory equipment depreciation $64.800 d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $640,000 cash in April Complete this question by entering your answers in the tabs below. Requirement General Touma General Ledger Trial Galak Job Costs Cost of Goods MO Grow Profit General Journal tab - Prepare joumal entries to record the transactions of Sweet Company during the month of April. General Ledger tab - One of the advantages of general ledger software is that posting is done automatically. To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab Trial Balance tab - General ledger software also automates the preparation of trial balances. A trial balance lists each account from the General Ledger along with its balance, either a debitor a credit. Total debits should always equal total credits 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 Sweet Company during the month of April Gross Profit tab - Calculate the gross profit on the sale of Job() during April Prepare journal entries for the month of April's transactions. Debit Account Title No Credit Date April 30 503,800 Raw materials inventory Accounts payable 503,800 468,400 2 April 30 Work in process inventory Raw materials inventory OO 406,400 359,000 3 April 30 Work in process inventory Cash Clo 359,000 4 April 30 Factory overhead Raw materials inventory 24,900 5 April 30 Factory overhead Cash 24,900 170,500 6 April 30 Work in process inventory Factory overhead Olo 179,500 0 7 April 30 51,900 Factory overhead Raw materials inventory Cash 54,800 54,800 X Accumulated depreciation - Factory equipment 8 April 30 Finished goods inventory Work in process inventory April 30 Cost of goods sold Finished goods inventory Oo a. Raw Materials Inventory has a March 31 balance of $89.500. b. Raw materials purchases in April are $503,800, and total factory payroll cost in April is $383,900. c. Actual overhead costs incurred in April are indirect materials. $51.900; Indirect labor. $24.900, factory rent. $33,900; facta $20.900. and factory equipment depreciation, $54,800. d. Predetermined overhead rate is 50% of direct labor cost e. Job 306 is sold for $640,000 cash in April. Complete this question by entering your answers in the tabs below. Job Costs Gross Pront General Journal General Ledger Thal Balance Cost of Goods Mfg Requirement Calculate the amount of overhead to be applied to each of the jobs worked on during April. Then, using the drop-downs, indi which account in the ledger should include the job's costs as of April 30. Job 306 Job 307 Uob 308 April Total $ 32.800 s 23,800 11,000 88,500 40,700 19,900 9,950 70,550 139,050 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 $ 138.800 S 02.000 225,700 159,500 101.000 100,900 488,400 350,000 0 825.400 231,400 385 200 208,8005 Cost of goods sold Finished goods Inventory Work in process inventory a. Raw Materials Inventory has a March 31 balance of $89,500. b. Raw materials purchases in April are $503,800, and total factory payroll cost In April is $383,900. c. Actual overhead costs incurred in April are Indirect materials, $51,900: Indirect labor, $24,900, factory rent. $ $20,900; and factory equipment depreciation, $54,800. d. Predetermined overhead rate is 50% of direct labor cost e. Job 306 is sold for $640,000 cash In April. ook Complete this question by entering your answers in the tabs below. SK General Journal General Ledger Trial Balance Job Costs Gross Profit Requirement Cost of Goods Mfg Prepare a schedule of cost of goods manufactured for Sweet Company for the month of April. rint 0 rences SWEET COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Direct materials used Direct labor used Factory overhead applied Total manufacturing costs added during April Add. Beginning work in process inventory Total cost of work in process Less Ending work in process inventory