Journal entries Nottaway Flooring produces custom-made floor tiles. The company's Raw Material Inventory account contains both direct and indirect materials Uncil 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. 1. Raw material purchased on account, $367,200. 2. Direct material issued to job #4263 cost $294,840, indirect material issued for that job cost $22,428. Direct material costing $3,366 was issued to start production of job #4264 3. Direct labor hours worked on job #4263 were 3,600. Direct labor hours for job #4264 were 120. All direct labor employees were paid $27 per hour. 4. Other actual factory overhead costs incurred for the month totaled $123,660. This overhead consisted of $32,400 of supervisory salaries, $38,700 of depreciation charges, $12,960 of insurance, $22,500 of indirect labor, and $17,100 of utilities. Salaries, Insurance, and utilities were paid in cash, and indirect labor charges were accrued 5. SOverhead is applied to production at the rate of $32.40 per direct labor hour. Beginning balances of Raw Material inventory and Work in Process Inventory were, respectively. $7,740 and $20,520. Of the beginning WIP balance, $1,440 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 Account Debit Credit 367,200 0 0 367,200 29,480 x 0 x 3,366 x 0 294,840 x 0 327,686 x 1 Raw Material Inventory Accounts Payable To record raw materials purchased on account 2 Work in Process Inventory for Job 4263 Work in Process Inventory for Job 4264 Manufacturing Overhead Control Raw Material Inventory To record the direct materials issued 3 Work in Process Inventory for Job 4263 Work in Process Inventory for Job 4264 Cash To record the labor costs 97,200 0 3,240 0 0 100,440 4 Manufacturing Overhead Control = 123,660 0 Cash xx 0 62,460 x 0 38,700 x 0 22,500 Accumulated Depreciation Wages Payable To record actual overhead costs 5 Work in Process Inventory for Job 4263 Work in Process Inventory for Job 4264 Manufacturing Overhead Control To record the application of OH 116,640 3,888 0 0 120,528 b. Determine the balance in Raw Material Inventory at the end of the month. $ 47,254 X c. Determine the balance in Work in Process Inventory at the end of the month. $ 29,574 d. Determine the cost of the goods manufactured during April. $ 510,120 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 $4.355 to $4.36). $ 51.01 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. $ 148,120 x Underapplied OH