Journal entries

Nottaway Flooring produces custom$-$made floor tiles. The company's Raw Material Inventory account contains both direct and indirect materials. Until the end of April, the company worked solely on a large job $($#$4263)$ for a major client. Near the end of the month, Nottaway began Job #$4264.$ The following information was obtained relating to April production operations.

Raw material purchased on account, $$448,800.$

Direct material issued to Job #$4263$ cost $$360,360$; indirect material issued for that job cost $$27,412.$ Direct material costing $$4,114$ was issued to start production of Job #$4264.$

Direct labor hours worked on Job #$4263$ were $3,600.$ Direct labor hours for Job #$4264$ were $120.$ All direct labor employees were paid $$33$ per hour.

Other actual factory overhead costs incurred for the month totaled $$151,140.$ This overhead consisted of $$39,600$ of supervisory salaries, $$47,300$ of depreciation charges, $$15,840$ of insurance, $$27,500$ of indirect labor, and $$20,900$ of utilities. Salaries, insurance, and utilities were paid in cash,$-$and indirect labor charges were accrued.

Overhead is applied to production at the rate of $$39\mathrm{.}60$ per direct labor hour.

Beginning balances of Raw Material Inventory and Work in Process Inventory were, respectively, $$9,460$ and $$25,080.$ Of the beginning WIP balance, $$1,760$ was related to Job #$4263.$ Job #$4263$ was completed during April.

a$.$ Prepare journal entries for Transactions $1-5.$

Note: List any multiple debits or any multiple credits in alphabetical order by account name.

$\backslash$table$[[,$Account,Debit,Credit$],[1,,,],[,,],[$To record raw materials purchased on account,,$],[2,*{*}^{},,],[,,],[widehat(),,],[widehat(),,],[$To record the direct materials issued,,$],[3,$widehat$(AA),,],[widehat(),,],[widehat(),,],[$To record the labor costs,,$],[4,$widehat$(),,],[widehat(),,],[widehat(),,],[widehat(),,],[$To record actual overhead costs,,$],[5,$widehat$(AA),,],[widehat(),,],[{}^{},,],[$To record the application of $OH,,]]$

b$.$ Determine the balance in Raw Material Inventory at the end of the month. $

c$.$ Determine the balance in Work in Process Inventory at the end of the month. &

e$.$ If completed goods consist of $10,000$ similar units, what was the cost per unit?

Note: Round unit costs to two decimal places $($i$.$e$.$ round $$4\mathrm{.}355$ to $$4\mathrm{.}36).$

$f.$ What is the amount of underapplied or overapplied overhead at the end of April?

Note: Do not use a negative sign with your answer.

$

Journal entries

Nottaway Flooring produces custom$-$made floor tiles. The company's Raw Material Inventory account contains both direct and indirect materials. Until the end of April, the company worked solely on a large job $($#$4263)$ for a major client. Near the end of the month, Nottaway began Job #$4264.$ The following information was obtained relating to April production operations.

Raw material purchased on account, $$448,800.$

Direct material issued to Job #$4263$ cost $$360,360$; indirect material issued for that job cost $$27,412.$ Direct material costing $$4,114$ was issued to start production of Job #$4264.$

Direct labor hours worked on Job #$4263$ were $3,600.$ Direct labor hours for Job #$4264$ were $120.$ All direct labor employees were paid $$33$ per hour.

Other actual factory overhead costs incurred for the month totaled $$151,140.$ This overhead consisted of $$39,600$ of supervisory salaries, $$47,300$ of depreciation charges, $$15,840$ of insurance, $$27,500$ of indirect labor, and $$20,900$ of utilities. Salaries, insurance, and utilities were paid in cash,$-$and indirect labor charges were accrued.

Overhead is applied to production at the rate of

b$.$ De