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Kelley Co.'s March 31 Inventory of raw materials is $130,000. Raw materials purchases in April are $630,000, and factory payroll cost in April is $493,000.

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Kelley Co.'s March 31 Inventory of raw materials is $130,000. Raw materials purchases in April are $630,000, and factory payroll cost in April is $493,000. Overhead costs incurred in April are: Indirect materials, $95,000; Indirect labor, $53,000; factory rent, $31,000; factory utilities, $39,000; and factory equipment depreciation, $61,000. The predetermined overhead rate is 60% of direct labor cost. Job 306 is sold for $870,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Balances on March 31 Job 308 Direct materials $ 49,000 $ 65,000 Direct labor 40,000 28,000 Applied overhead 24,000 16,800 Costs during April Direct materials 155,000 250,000 $120,000 Direct labor 125,000 200,000 115,000 Applied overhead ? ? Status on April 30 Finished Finished In (sold) (unsold) process Complete this question by entering your answers in the tabs below. Cost of Goods Mfg Gross Profit General General Requirement Journal Ledger Trial Balance Job Costs Prepare Journal entries for the month of April's transactions. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 13 a. Record the purchase of materials (on credit) Journal entry worksheet b. Record direct materials used in production. Note: Enter debits before credits. Date Account Title Debit Credit Apr 30 Journal entry worksheet 1 2 4 LO 5 6 7 8 13 > C. Record direct labor paid and assigned to Work in Process Inventory. Note: Enter debits before credits. Date Account Title Debit Credit Apr 30 Journal entry worksheet e. Record overhead costs applied to Work in Process Inventory. Note: Enter debits before credits. Date Account Title Debit Credit Apr 30 T ( 1 2 3 4 5 7 8 13 f1. Record the cost of indirect materials used. Note: Enter debits before credits. Account Title Debit Credit Date Apr 30 General General Cost of Goods Requirement Trial Balance Job Costs Journal Gross Profit Ledger Mfg Select the accounts used in the calculation of gross profit. Enter the amount of gross profit for Kelley Company for month of April. Dates: Mar 31 to: Mar 31 0 0 Gross profit

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