Problem 2-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 [The following information applies to the questions displayed below] Marco Company shows the following costs for three jobs worked on in April. Job 386 Job 3e7 Job 388 $ 30,880 22.08 11,00 $ 43,00 17,680 3.560 Balances on March 31 Direct materials used in March) Direct labor used in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 137,880 101.680 ? Finished (sold) 215,320 152.680 ? Finished (unsold) $ 110,000 188,888 ? In process Additional Information a. Raw Materials Inventory has a March 31 balance of $83.000. b. Raw materials purchases in April are $510,000. and total factory payroll cost In April is $374,000 c. Actual overhead costs incurred in April are Indirect materials. $55,000: Indirect labor. $21.000: factory rent. $32,000; factory Utilities. $22000; and factory equipment depreciation $54.000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $660,000 cash In April. Problem 2-2A (Algo) Part 3 a. Materials purchases (on credit). b. Direct materials used. c. Direct labor used (and paid in cash) and assigned to Work In Process Inventory d. Indirect materials used and assigned to Factory Overhead. e. Indirect labor used (and paid in cash) and assigned to Factory Overhead. f. Overhead costs applied to Work In Process Inventory. 9. Actual other overhead costs incurred (Factory rent and utilities are pald in cash.) h. Transfer of Jobs 306 and 307 to Finished Goods Inventory. 1. Cost of goods sold for Job 306. J. Revenue from the sale of Job 306 received in cash. k. Close underapplied or overapplied overhead to the Cost of Goods Sold account. 3. Prepare journal entries for the month of April to record the above transactions. Answer is not complete. No Transaction General Journal Credit Debit 510.000 1 a. Raw materials inventory Accounts payable 510,000 2 b. Work in process inventory Raw materials inventory 3 C c Work in process inventory Cash 4 d. Factory overhead booooooooooooo 5 e x Work in process inventory Factory overhead 8 f. x Factory overhead Raw materials inventory Cash x Accumulated depreciation Factory building x 7 g. Accounts receivable x 8 h. Accumulated depreciation-Building > 9 i Accounts payable X 10 Accounts receivable X 11 k. Accumulated depreciation-Building x