Job Cost Flows, Journal Entries On April 1, Sangvikar Company had the following balances in its inventory accounts: Materials Inventory $12,720 Work-in-Process Inventory 21,350 Finished Goods Inventory 8,800 Work-in-process inventory is made up of three jobs with the following costs: Job 114 Job 115 Job 116 Direct materials $2,804 $2,640 $3,650 Direct labor 1,800 1,560 4,300 Applied overhead 1,080 936 2,580 During April, Sangvikar experienced the transactions listed below. a. Materials purchased on account, $28,000. b. Materials requisitioned: Job 114, $16,500; Job 115, $12,000; and Job 116, $5,000. C. Job tickets were collected and summarized: Job 114, 150 hours at $14 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 $4,279. f. Job 115 was completed and transferred to the finished goods warehouse. g. (1) Job 115 was shipped, and (2) the customer billed for 125 percent of the cost. Required: 1. Prepare journal entries for the April transactions. a. 28,000 Materials Accounts Payable 28,000 b. Work in Process 33,500 Materials 33,500 c. Work in Process 6,620 Wages Payable 6,620 d. Work in Process Overhead Control e. Overhead Control 4,279 Various Accounts 4,279 f. Finished Goods Work in Process 9 (1). Cost of Goods Sold Finished Goods c. 6,620 Work in Process Wages Payable | 4.20 6,620 d. Work in Process Overhead Control e. Overhead Control 4,279 Various Accounts 4,279 1 1 0 0 f. Finished Goods Work in Process 9 (1). Cost of Goods Sold Finished Goods . 9 (2). Accounts Receivable Sales Revenue 2. Calculate the ending balances of each of the inventory accounts as of April 30. Post the entries to the T-accounts in the same order in which they were journalized. Materials Work in Process Finished Goods