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Hi there, i am stuck on this multi-step question and I need some help. I would greatly appreciate it. Thank you. {Required Information} (General Journal
Hi there, i am stuck on this multi-step question and I need some help. I would greatly appreciate it. Thank you.
{Required Information}
(General Journal Picture 1)
(General Journal Picture 2)
(General Journal Picture 3)
(General Journal Question #2)
(General Journal Question #3)
(General Journal Question #6)
(General Journal Question #8)
(General Journal Question #9)
(General Journal Question #11)
(Job Costs Picture 1)
(Cost of Goods Mfg Picture 1)
(Gross Profit Picture 1) [Subject to change once the rest of the general journal questions are answered)
Calculate the amount of overhead to be applied to each of the jobs worked on during April. Then, using the drop-downs, indica which account in the ledger should include the job's costs as of April 30. Journal entry worksheet Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Select the accounts used in the calculation of gross profit. Enter the amount of gross profit for Strods Company for month of April. Journal entry worksheet c. Record direct labor used (and paid in cash) and assigned to Work in Process Inventory. Note: Enter debits before credits. Journal entry worksheet Journal entry worksheet h. Record the transfer of Jobs 306 and 307 to Finished Goods Inventory. Note: Enter debits before credits. Journal entry worksheet k. Record the close underapplied or overapplied overhead to the Cost of Goods Sold account. Note: Enter debits before credits. Prepare journal entries for the month of April's transactions. Journal entry worksheet (1) 2 3 8 f. Record the overhead costs applied to. Work in Process Inventory. Note: Enter debits before credits. GL0201 (Algo) - Based on Problem 2-2A LO P1, P2, P3, P4 Strods Company shows the following costs for three jobs worked on in April. Additional Information a. Raw Materials Inventory has a March 31 balance of $87,500, b. Raw materials purchases in April are $503,000, and total factory payroll cost in April is $379,500. c. Actual overhead costs incurred in April are indirect materlals, $51,500; indirect labor, $24,500; factory rent, $33,500; factory utilities, $20,500, and factory equipment depreciation, $54,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $630,000 cash in April. \begin{tabular}{|c|c|c|c|c|c|} \hline 5 & April 30 & Factory overhead & 0 & 24,500 & \\ \hline & & Cash & & & 24,5000 \\ \hline & & & & & \\ \hline \multirow[t]{3}{*}{6} & April 30 & Work in process inventory & 0 & & \\ \hline & & Factory overhead & 0 & & is \\ \hline & & 4 & & & \\ \hline \multirow[t]{3}{*}{7} & April 30 & Factory overhead & () & 108,000 & \\ \hline & & Cash & 0 & & 54,000 \\ \hline & & Accumulated depreciation - Factory equipment & ( & & 54,0000 \\ \hline \multirow[t]{2}{*}{8} & April 30 & Finished goods inventory & 0 & & \\ \hline & & Work in process inventory & 0 & & \\ \hline \multirow[t]{2}{*}{9} & April 30 & Cost of goods sold & 0 & & \\ \hline & & Finished goods inventory & 0 & & \\ \hline & & & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|l|} \hline 10 & April 30 & Cash & 0 & 630,0000 \\ \hline & & Sales & 0 & 630,0000 \\ \hline & & & & \\ \hline 11 & April 30 & Cost of goods sold & 0 & \\ \hline & & Factory overhead & 0 & \\ \hline \end{tabular} Prepare a schedule of cost of aoods manufactured fnr Strnde Cnmnanu for the month of April Step by Step Solution
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