Job Cost Flows, Journal Entries On April 1, Sangvikar Company had the following balances in its inventory accounts: Materials Inventory $12,760 21,350 8,600 Work-in-Process Inventory Finished Goods Inventory Work-in-process inventory is made up of three jobs with the following costs: Job 114 $2,804 1,800 1,080 Job 115 $2,640 1,560 Job 116 936 Direct materials Direct labor Applied overhead During April, Sangvikar experienced the transactions listed below. a. Materials purchased on account, $30,000. 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 $12 per hour; Job 115, 220 hours at $17 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 $4,495. f. Job 115 was completed and transferred to the finished goods warehouse. g. (1) Job 115 was shipped, and (2) the customer was billed for 135 percent of the cost. $3,650 4,300 2,580

Job Cost Flows, Journal Entries On April 1, Sangvikar Company had the following balances in its inventory accounts: Work-in-process inventory is made up of three jobs with the following costs: During April, Sangvikar experienced the transactions listed befow. a. Materials purchased on account, $30,000. b. Materials requisitioned: Job 114,$16,500; Job 115,$12,000; and 306 116, $5,000. c. Job tickets were collected and summarized: Job 114, 150 hours at $12 per hour Job 115, 220 hours at $17 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 $4,495. f. Job 115 was completed and transferred to the finished goods warehouse. 9. (1) Job 115 was shipped, and (2) the customer was bilied for 135 percent of the cost. a. Materials Accounts Payable b. Work in Process Materials c. Work in Process Wages Payable d. Work in Process Overhead control e. Overhead Control Accounts Payable f. Finished Goods Work in Process g(1). Cost of Goods Sold Finished Goods g (2). Accounts Receivable Sales Revenue - 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 hey were journalized