On April 1, Sangvikar Company had the following balances in its inventory accounts: $12.720 Materials Inventory Work-in-Process Inventory Finished Goods Inventory 21,350 3.700 Work-in-process inventory is made up of three jobs with the following costs: Job 114 Job 115 Job 116 Direct materials $2,804 $2,640 $3,650 Direct labor 1,800 1,560 4,300 Applied overhead 1,080 936 2,580 ring April, Sangvikar experienced the transactions listed below. a. Materials purchased on account. $20,000. 5. Materials requisitioned: Job 114, S16,500; Job 115, 512,000; and Job 116, $5,000 c. Job tickets were collected and summarized: Job 114, 150 hours at 514 per hour; Job 115, 220 hours at $17 per hour; and Job 116, 00 hours at $10 per hou d. Overhead is applied on the basis of direct labor cost. ACTE e. Actual overhead was $4,675. f. Job 115 was completed and transferred to the finished goods warehouse. 9. (1) Job 115 was shipped, and (2) the customer was billed for 140 percent of the cost. Required: 1. Prepare journal entries for the April transactions. b. c. d 9 (1) 9 (2) 2. Calculate the ending balances of each of the inventory accounts as of April 30. Post the entries to the T-accounts in the same order in which they were found Materials Work in Process Finished Goods