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, 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, $489,600 Direct material issued to Job 4263 cost $393,120 indirect material issued for that job cost $29,904 Direct material costing $4,488 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 $36 per hour Other actual factory overhead costs incurred for the month totaled $164,880 This overhead consisted of $43,200 of supervisory salaries, $51,600 of depreciation charges, $17,280 of insurance, $30,000 of indirect labor, and $22,800 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 $43 20 per direct labor hour Beginning balances of Raw Material Inventory and Work in Process Inventory were, respectively, $10,320 and $27,360 Of the beginning WIP balance, $1,920 was related to Job 4263 Job 4263 was completed during April a Prepare journal entries for Transactions 15 Note List any multiple debits or any multiple credits in alphabetical order by account name Account Debit Credit 1 To record raw materials purchased on account 2 To record the direct materials issued 3 To record the labor costs 4 To record actual overhead costs 5 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 $ d Determine the cost of the goods manufactured during April $ 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) $ 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 $ (Under applied, over applied, or neither)

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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, 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, $489,600.
Direct material issued to Job #4263 cost $393,120; indirect material issued for that job cost $29,904. Direct material costing $4,488 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 $36 per hour.
Other actual factory overhead costs incurred for the month totaled $164,880. This overhead consisted of $43,200 of supervisory salaries, $51,600 of depreciation charges, $17,280 of insurance, $30,000 of indirect labor, and $22,800 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 $43.20 per direct labor hour.

Beginning balances of Raw Material Inventory and Work in Process Inventory were, respectively, $10,320 and $27,360. Of the beginning WIP balance, $1,920 was related to Job #4263. Job #4263 was completed during April.

a. Prepare journal entries for Transactions 15.

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

	Account	Debit	Credit
1

	To record raw materials purchased on account
2



	To record the direct materials issued
3


	To record the labor costs
4



	To record actual overhead costs
5


	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. $ d. Determine the cost of the goods manufactured during April. $ 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). $ 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. $ (Under applied, over applied, or neither)