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question 2 complete the general journal portion Fisher Co.'s March 31 inventory of raw materials is $225,000. Raw materials purchases in April are $790,000, and
question 2 complete the general journal portion
Fisher Co.'s March 31 inventory of raw materials is $225,000. Raw materials purchases in April are $790,000, and factory payroll cost in April is $740,000. Overhead costs incurred in April are: indirect materials, $119,000; indirect lobor, $110,000; factory rent $132,000 factory utilities, $77,000; and factory equipment depreciation, $80,000. The predetermined overhead rate is 80% of direct labor cost. Job 306 is sold for $1.430,000 cash in April. Costs of the three jobs worked on in April follow, Job 306 Job 307 Job 308 Balances on March 31 Direct materiale $ 87,000 $122,000 Direct labor 79,000 47,000 Applied overhead 62,400 37,600 Costs during April Direct materials 193,000 307,000 $158,000 Direct labor 201,000 295,000 134,000 Applied overhead ? 22 Finished Finished In Status on April 30 (sold) (unsold) process Complete this question by entering your answers in the tabs below. Assessment Tool Frame Cost of Goods Mfg Gross Profit Requirement General General Journal Trial Balance Job Costs Ledger Prepare journal entries for the month of April's transactions View transaction list Journal entry worksheet 2 3 4 5 6 7 8 13 > BB ..... b. Record direct materials used in production. Note: Enter debits before credits. Date Account Title Debit Credit Apr 30 Work in process inventory Raw materials inventory Record entry Clear entry View general Journal c. Record direct labor paid and assigned to Work in Process Inventory. Note: Enter debits before credits. Account Title Debit Credit Date Apr 30 Record entry Clear entry View general Journal Journal entry worksheet e. Record overhead costs applied to Work in Process Inventory. Note: Enter debits before credits. Dato Account Title Debit Credit Apr 30 Record entry Clear entry View general Journal Journal entry worksheet f1. Record the cost of indirect materials used. Note: Enter debits before credits. Date Account Title Debit Credit Apr 30 Record entry Clear entry View general journal Journal entry worksheet f2. Record the cost of factory utilities paid in cash. Note: Enter debits before credits. Account Title Debit Credit Date Apr 30 Record entry Clear entry View general journal Journal entry worksheet f3. Record the depreciation on factory equipment. Note: Enter debits before credits. Date Account Title Debit Credit Apr 30 Record entry Clear entry View general Journal Journal entry worksheet 1. Record the assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. (The amount is not material.) Note: Enter debits before credits Date Apr 30 Account Title Dobit Credit Record entry Clear entry View general Journal Step by Step Solution
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