Panzarella Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials (in March) Direct labor (in March) $ 34,600 25,600 Applied overhead (March) Costs during April Direct materials Direct labor Applied overhead 12,800 $ 43,400 20,800 10,400 140,600 96,200 228,400 164,000 ? $ 102,800 107,800 ? Status on April 30 Additional Information Finished (sold) Finished (unsold) In process a. Raw Materials Inventory has a March 31 balance of $94,000. b. Raw materials purchases in April are $505,600, and total factory payroll cost in April is $393,800. c. Actual overhead costs incurred in April are indirect materials, $52,800; indirect labor, $25,800; factory rent, $34,800; factory utilities, $21,800; and factory equipment depreciation, $56,600. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $660,000 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 Gross Profit Mfg Cash Accounts receivable, net Panzarella Company Trial Balance March 31, 2021 Account Title Raw materials inventory Work in process inventory Finished goods inventory Factory Equipment Accumulated depreciation - Factory equipment Accounts payable Common stock, $5 par value Paid-in capital in excess of par - Common Retained earnings Cost of goods sold Total < General Ledger Job Costs > Debit Credit $ 715,600 236,000 75,000 264,500 111,000 524,000 223,600 556,200 306,000 206,000 778,000 365,700 $ 2,180,800 $ 2,180,800 Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit General Ledger Account Cash Accounts receivable, net No. Date Debit Credit Balance No. Date Debit Credit Balance March 31 506,000 March 31 236,000 3 April 30 368,000 138,000 5 April 30 25,800 112,200 7 April 30 56,600 55,600 10 April 30 660,000 715,600 4444 + 77 Raw materials inventory Work in process inventory No. Date Debit Credit Balance March 31 94,000 1 April 30 505,600 599,600 2 April 30 471,800 127,800 4 April 30 52,800 75,000 No. Date Debit Credit Balance March 31 147,600 777 7 2 April 30 471,800 619,400 3 April 30 368,000 987,400 6 April 30 184,000 1,171,400 8 April 30 906,900 264,500 Finished goods inventory Factory overhead No. Date Debit Credit Balance No. Date Debit Credit Balance March 31 0 March 31 0 8 April 30 906,900 906,900 9 April 30 77 5 April 30 25,800 357,900 549,000 6 April 30 184,000 25,800 (158,200) 10 April 30 660,000 (111,000) 4 April 30 52,800 (105,400) 7 April 30 113,200 11 April 30 7,800 7,800 0 77 Factory Equipment No. Date Debit March 31 Accounts payable No. Date Debit March 31 1 April 30 Accumulated depreciation - Factory equipment Credit Balance No. 524,000 Date March 31 Debit 7 April 30 Credit Balance No. Date 50,600 March 31 505,600 556,200 Paid-in capital in excess of par - Common Credit Balance 167,000 56,600 223,600 Common stock, $5 par value Debit Credit Balance 306,000 Retained earnings Balance No. Date Debit Credit Balance 206,000 March 31 778,000 No. Date Debit Credit March 31 Cost of goods sold No. Date Debit Credit Balance March 31 0 9 April 30 357,900 11 April 30 7,800 357,900 365,700 < General Journal Trial Balance >