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Journal entries Nottaway Flooring produces custom-made floor tiles. The companys Raw Material Inventory account contains both direct and indirect materials. Until the end of April

Journal entries

Nottaway Flooring produces custom-made floor tiles. The companys Raw Material Inventory account contains both direct and indirect materials. Until the end of April 2013, 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, $204,000.

2. Direct material issued to Job #4263 cost $163,800; indirect material issued for that job cost $12,460. Direct material costing $1,870 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 $15 per hour.

4. Actual factory overhead costs incurred for the month totaled $68,700. This overhead consisted of $18,000 of supervisory salaries, $21,500 of depreciation charges, $7,200 of insurance, $12,500 of indirect labor, and $9,500 of utilities. Salaries, insurance, and utilities were paid in cash, and indirect labor charges were accrued.

5. Overhead is applied to production at the rate of $18 per direct labor hour. Beginning balances of Raw Material Inventory and Work in Process Inventory were, respectively, $4,300 and $11,400. Of the beginning WIP balance, $800 was related to Job #4263. Job #4263 was completed during April. a.

Part 1: Prepare journal entries for each transaction. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".

Sample format:

#1.

Raw material(debit) 204,000
Accounts payable (credit) 204,000

#2

WIP #4263 (debit) 163,800
WIP #4264 (debit) 1,870
MANUFAC. OVERHEAD (debit) 12,460
RAW MATERIAL INVENTORY (credit) 178,130

Part 2: Please help to solve and show work. Part b & c answers given but please show work. Thank you.

b.Determine the balance in Raw Material Inventory at the end of the month. $ answer= 30,170

c. Determine the balance in Work in Process Inventory at the end of the month. $ answer=16,430

d. Determine the cost of the goods manufactured during April. $

If completed goods consist of 10,000 similar units, what was the cost per unit? If required, round your answer to the nearest cent. $ per unit

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

answer=overhead is underapplied, please determine by what amount

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