Job Cost Flows, Journal Entries On April 1, Sangvikar Company had the following balances in its inventory accounts: Materials Inventory Work-in-Process Inventory Finished Goods Inventory Work-in-process inventory is made up of three jobs with the following costs: $12,760 21,350 8,700 Job 114 Job 115 Job 116 $2,804 $2,640 $3,650 1,5604,300 2,580 Direct materials Direct labor Applied overhead During April, Sangvikar experienced the transactions listed below 1,800 1,080 936 a. Materials purchased on account,$30,000. b. Materials requisitioned: Job 114, $16,500; Job 115, $12,400; and Job 116, $5,000. c. Job tickets were collected and summarized: Job 114, 150 hours at $15 per hour; Job 115, 220 hours at $14 per hour; and Job 116, 80 hours at $18 per hour d. Overhead is applied on the basis of direct labor cost. e. Actual overhead was $4,369 1. Job 115 was completed and transferred to the finished goods warehouse, g (1) Job 115 was shipped, and (2) the customer was billed for 125 percent of the Rost. Requiredi 1. Prepare journal entries for the April transactions. a Materias 30,000 Check My Work All work saved. Email Instructor Save and Exit Submit eBook 1. Prepare journal entries for the April transactions. Materials 30,000 a. Accounts Payable 30,000 Work in Process 3,900 33,900 b. Materials 33,900 Work in Process6,770 c. Wages Payable 6,770 Work in Process Overhead Control Overhead Control4,369 e. 4,369 Finished Goods 4,596 X Work in Process 4,596 X g (1). Cost of Goods Sold Finished Goods Check My Work All work saved. Work in Process 6,770 V C. Wages Payable 6,770 Work in Process d. Overhead Control Overhead Control4369 Various Accounts 4,369 f. Finished Goods 4,596 X Work in Process v 4,596 X g (). Cost of Goods Sold Finished Goods V g(2). Accounts Receivable 4,640 x Sales Revenue 4,640 X Feedback Check My Work Review Objective 4 which shows what journal entries should be made for the month. Check My Work All work saved