Required:

Prepare journal entries for the April transactions.

a$.$

$$AccountsPayable$$

b$.$ Work in Process $$

Materials $$

c$.$ Work in Process $$

Wages Payable $vv$

d$.$ Work in Process $$

Overhead Control $$

e$.$ Overhead Control $$

Various Accounts $$

f$.$ Finished Goods $v$

Work in Process $$

$g(1)$ Cost of Goods Sold $$

$1$

g $(2).$ Accounts Receivable $$

Sales Revenue 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 journalized.

V Check My Work

Set up $T$ accounts to calculate ending balances inventory.

Set up T accounts to calculate ending balances inventory.

Finished Goods Job Cost Flows, Journal Entries

On April $1,$ Sangvikar Company had the following balances in its inventory accounts:

Work$-$in$-$process inventory is made up of three jobs with the following costs:

During April, Sangvikar experienced the transactions listed below.

a$.$ Materials purchased on account, $$28,000.$

b$.$ Materials requisitioned: Job $114,$$$16,500$; Job $115,$$$12,400$; and Job $116,$$$5,000.$

c$.$ Job tickets were collected and summarized: Job $114,150$ hours at $$14$ per hour; Job $115,220$ hours at $$14$ per hour; and Job $116,80$ hours at $$18$ per hour.

d$.$ Overhead is applied on the basis of direct labor cost.

e$.$ Actual overhead was $$4,279.$

f$.$ Job $115$ was completed and transferred to the finished goods warehouse.

g$.(1)$ Job $115$ was shipped, and $(2)$ the customer was billed for $125$ percent of the cost.

Required:

Prepare journal entries for the April transactions.

a$.$

b$.$ Work in Process $$

Materials $$

c$.$ Work in Process $$