Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials (in March) Direct labor (in March) Applied overhead (March) Costs during April Direct materials Direct labor Applied overhead Status on April 301 Additional Information $ 35,000 18,000 9,000 Job 306 Job 307 Job 308 $ 29,000 20,000 10,000 135,000 85,000 2 Finished (sold) 220,000 150,000 $ 100,000 105,000 7 Finished (unsold) In process a. Raw Materials Inventory has a March 31 balance of $80,000. b. Raw materials purchases in April are $500,000, and total factory payroll cost in April is $363,000. c. Actual overhead costs incurred in April are indirect materials, $50,000; indirect labor, $23,000; factory rent, $32,000; factory utilities, $19,000; and factory equipment depreciation, $51,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $635,000 cash in April. Complete this question by entering your answers in the tabs below. Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Prepare journal entries for the month of April's transactions. View transaction list Complete this question by entering your answers in the tabs below. Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Prepare journal entries for the month of April's transactions. View transaction list Journal entry worksheet 2 3 5 6 7 8 11 a. Record the purchase of materials (on credit). Note: Enter debits before credits. Date April 30 Account Title Debit Credit Record entry Clear entry View general journal omplete question by interin ne tabs Requirement General Journal General Ledger Cost of Goods Trial Balance Job Costs Gross Profit Mfg Prepare journal entries for the month of April's transactions. View transaction list Journal entry worksheet < 2 3 b. Record the direct materials used. Note: Enter debits before credits. Date April 30 5 6 7 8 11 Account Title Debit Credit Record entry Clear entry View general journal Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Prepare journal entries for the month of April's transactions. View transaction list Journal entry worksheet 2 3 5 6 7 8 11 > c. Record direct labor used (and paid in cash) and assigned to Work in Process. Inventory. Note: Enter debits before credits. Date April 30 Account Title Debit Credit Record entry Clear entry View general journal Requirement General Journal General Ledger Cost of Goods Trial Balance Job Costs Gross Profit Mfg Prepare journal entries for the month of April's transactions. View transaction list Journal entry worksheet 2 3 5 6 7 d. Record the indirect materials used and assigned to Factory Overhead. Note: Enter debits before credits. Date April 30 Account Title Debit Credit 11 Record entry Clear entry View general journal Requirement General Journal General Ledger Cost of Goods Trial Balance Job Costs Gross Profit Mfg Prepare journal entries for the month of April's transactions. View transaction list Journal entry worksheet < 7 8 11 e. Record the indirect labor used (and paid in cash) and assigned to Factory Overhead. Note: Enter debits before credits. Date April 30 Account Title Debit Credit Record entry Clear entry View general journal Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Prepare journal entries for the month of April's transactions. View transaction list Journal entry worksheet > 2 3 5 6 7 8 11 f. Record the overhead costs applied to Work in Process Inventory. Note: Enter debits before credits. Date April 30 Account Title Debit Credit Record entry Clear entry View general journal Complete this question by entering your answers in the tabs Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Prepare journal entries for the month of April's transactions. View transaction list Journal entry worksheet > 2 3 5 6 8 11 g. Record the actual other overhead costs incurred. (Factory rent and utilities are paid in cash.) Note: Enter debits before credits. Date April 30 Account Title Debit Credit Record entry Clear entry View general journal Requirement General Journal General Ledger Cost of Goods Trial Balance Job Costs Gross Profit Mfg Prepare journal entries for the month of April's transactions. View transaction list Journal entry worksheet 2 3 5 6 7 8 11 h. Record the transfer of Jobs 306 and 307 to Finished Goods Inventory. Note: Enter debits before credits. Date April 30 Account Title Debit Credit Record entry Clear entry Prev View general journal Complete this question by entering your answers in the tabs below. Requirement General Journal General Ledger Cost of Goods Trial Balance Job Costs Gross Profit Mfg Prepare journal entries for the month of April's transactions. View transaction list Journal entry worksheet < 5 i. Record the cost of goods sold for Job 306. Note: Enter debits before credits. Date April 30 8 9 11 Account Title Debit Credit Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Prepare journal entries for the month of April's transactions. View transaction list Journal entry worksheet > 5 6 8 9 10 11 j. Record the revenue from the sale of Job 306 received in cash. Note: Enter debits before credits. Date April 30 Account Title Debit Credit Record entry Clear entry View general journal Requirement General Journal General Ledger Cost of Goods Trial Balance Job Costs Gross Profit Mfg Prepare journal entries for the month of April's transactions. View transaction list Journal entry worksheet 1 5 6 8 9 10 11 > k. Record the close underapplied or overapplied overhead to the Cost of Goods Sold account. Note: Enter debits before credits. Date April 30 Account Title Debit Credit Record entry Clear entry View general journal Prev 1 of 1 Next