GLO201 (Algo) - Based on Problem 2-2A LO P1, P2, P3, P4 Pelcher Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 $ 69,000 60,000 48,000 $ 95,000 38,000 30,400 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 30 175,000 165,000 ? Finished (sold) 280,000 250,000 ? Finished (unsold) $ 140,000 125,000 ? In process Additional Information a. Raw Materials Inventory has a March 31 balance of $180,000. b. Raw materials purchases in April are $720,000, and total factory payroll cost in April is $623,000. c. Actual overhead costs incurred in April are indirect materials, $111,380; indirect labor, $39,000; factory rent, $41,000; factory utilities, $34,000; and factory equipment depreciation, $63,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $1,200,000 cash in April. 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 Account Title Debit Credit Date April 30 1 720,000 Raw materials inventory Accounts payable 720,000 2 April 30 OOOO os Work in process inventory Raw materials inventory 595,000 595,000 3 April 30 Work in process inventory 540,000 Cash 540,000 4 April 30 111,380 Factory overhead Raw materials inventory 111,380 5 April 30 pril 30 39,000 Factory overhead Cash 39,000 oo OOOO OOO 6 April 30 270,000 Work in process inventory Factory overhead 270,000 7 April 30 126,000 Factory overhead Accumulated depreciation - Factory equipment 63,000 Cash 63.000 8 April 30 1,417,900 X Finished goods inventory Work in process inventory ol 1,417,900 9 April 30 599,500 X Cost of goods sold Finished goods inventory ol 599,500 X 10 April 30 Cash 1.200,000 Sales 1.200,000 OOOO 11 April 30 18,380 X Cost of goods sold Factory overhead 18,380 X Requirement General Journal 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 drop-downs, indicate which account in the ledger should include the job's costs as of April 30. Job 306 Job 307 Job 308 April Total IS 69,000 S 60,000 48,000 95,000 38,000 30,400 177,000 163,400 IS 340,400 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 Is 175,000 IS 140,000 165,000 19,500 X 359,500 536,500 S 280,000 250,000 125,000 X 655,000 818,400 S 595,000 540,000 207.000 1,342.000 1,682,400 125,000 62,500 X 327,500 327,500 Work in process inventory Is S IS Cost of goods At the end of April, indicate which account should include each job's costs. Finished goods inventory sold 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 a schedule of cost of goods manufactured for Pelcher Company for the month of April. PELCHER COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs added during April Total cost of work process Answer is not complete. Complete this question by entering your answers in the tabs below. General Requirement General Cost of Goods Journal Ledger Trial Balance Job Costs Mfg Gross Profit Select the accounts used in the calculation of gross profit. Enter the amount of gross profit for Pelcher Company for the month of April. 0 0 Gross profit