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Please answer the following questions (transaction list) GLO201 (Algo) - Based on Problem 2-2A LO P1, P2, P3, P4 Callahan Company shows the following costs
Please answer the following questions
(transaction list)
GLO201 (Algo) - Based on Problem 2-2A LO P1, P2, P3, P4 Callahan Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 $ 63,000 54,000 37,800 $ 86,000 35,000 24,500 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 30 169,000 153,000 ? Finished (sold) 271,000 235,000 ? Finished (unsold) $ 134,000 122,000 ? In process Additional Information a. Raw Materials Inventory has a March 31 balance of $165,000. b. Raw materials purchases in April are $690,000, and total factory payroll cost in April is $584,000. C. Actual overhead costs incurred in April are indirect materials, $105,320; Indirect labor, $36,000; factory rent, $38,000; factory utilities, $31,000; and factory equipment depreciation, $60,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $1,070,000 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 Journal entry worksheet 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 Prepare a schedule of cost of goods manufactured for Callahan Company for the month of April. CALLAHAN COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs added during April Total cost of work in process
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