Instructions The following transactions occurred during the month of April for Nelson Company: Purchased materials costing $4,610 on account. . Requisitioned materials totaling $4,800 for use in production, $3,170 for Job 518 and the remainder for 3 Job 519 Recorded 65 hours of direct labor on Job 518 and 90 hours on Job 519 for the month. Direct laborers 14 are paid at the rate of $14 per hour. Applied overhead using a plantwide rate of $6.20 per direct labor hour 15 25 Incurred and paid in cash actual overhead for the month of S973. 27 Completed and transferred Job 518 to Finished Goods. Sold on account Job 517, which had been completed and transferred to Finished Goods in March, for 30 cost ($2,770) plus 25%. (Enter this as two transactions.) Required 1. Prepare journal entries for transactions from April 1 through 25 2. (a) Prepare job-order cost sheets for Jobs 518 and 519. (b) Prepare journal entries for transactions on April 27 and 30. 3. Prepare a schedule of cost of goods manufactured for April. Assume that the beginning balance in the raw materials account was $1,025 and that the beginning balance in the work-in-process account was zero. (Appendix 4A) Journal Entries, Job Costs Journal Amount Descriptions Job-Order Cost Cha instruction Chart of Accounts CHART OF ACCOUNTS Nelson Company General Ledger REVENUE ASSETS 410 Sales 110 Cash 120 Accounts Receivable EXPENSES 131 Supplies 510 Cost of Goods Sold 132 Prepaid Insurance 520 Insurance Expense 141 Raw Materials 530 Wages Expense 142 Work in Process 540 Supplies Expense 143 Overhead Control 550 Utilities Expense 144 Finished Goods 560 Depreciation Expense 170 Land 590 Miscellaneous Expense 180 Equipment Chart of Accounts 540 Supplies Expense 143 Overhead Control 550 Utilities Expense 144 Finished Goods 560 Depreciation Expense 170 Land 590 Miscellaneous Expense 180 Equipment 181 Accumulated Depreciation LIABILITIES 210 Accounts Payable 220 Wages Payable 230 Utilities Payable 240 Lease Payable EQUITY 310 Common Stock 320 Retained Earnings Amount Descriptions Refer to the list below for the exact wording of text items within your Schedule of Cost of Goods Manufactured. (Note: "Overhead" refers to actual overhead paid.) Amount Descriptions Add: Beginning work in process Add: Ending work in process Add: Overapplied overhead Add: Underapplied overhead Beginning raw materials inventory Cost of goods manufactured Current manufacturing costs Direct labor Ending raw materials Less: Beginning work in process Less: Ending work in process Less: Overapplied overhead Amount Descriptions Beginning raw materials inventory Cost of goods manufactured Current manufacturing costs Direct labor Ending raw materials Less: Beginning work in process Less: Ending work in process Less: Overapplied overhead Less: Underapplied overhead Overhead Overhead applied Purchases of raw materials Raw materials used Total Total manufacturing costs Total raw materials available Shaded cells have fe Journal 1. Prepare journal entries for transactions from April 1 through 25. Refer to the Chart of Accounts for the exact wording of account titles All transactions on this page must be entered (except for post ref(s)) before you will receive Check My Work feedback. PAGE 1 Score: 8/126 GENERAL JOURNAL CREDIT DEBIT POST. REF ACCOUNT DATE 1 21 3 Journal Shaded cells have fr PAGE 1 GENERAL JOURNAL Score: 8/126 ACCOUNT POST. REF DEBIT CREDIT DATE 1 2 6 7 10 Essay Paper Shaded cells have fe Journal Question not attempted. PAGE 2 GENERAL JOURNAL Score: 0/76 CREDIT POST. REF DEBIT DATE ACCOUNT 5 Points: Job-Order Cost Sheets Score: 8/38 Job-Order Cost Sheets Job 519 1 Job 518 $1,630.00 $3,170.00 2 Direct materials 3Direct labor 4 Applied overhead 5 Schedule of Cost of Goods Manufactured 3. Prepare a schedule of cost of goods manufactured for April. Assume that the beginning balance in the raw materials account was $1,025 and that the beginning balance in the work-in-process account was zero. Nelson Company Schedule of Cost of Goods Manufactured For the Month Ended April 30 1 Direct materials ending work in progress 2 3 7 Schedule of Cost of Goods Manufactured ending work in progress 7 3 5 6 7 9 10 11 12 13 14 15