Requirement Journal iriai Baianice JOD LOSTS Gross Prorit Ledger Mfg Prepare journal entries for the month of April's transactions. No Date Account Title Debit Credit 1 April 30 503,200 Raw materials inventory Accounts payable 503,200 2 April 30 Work in process inventory Raw materials inventory 3 April 30 Work in process inventory Cash 4 April 30 Factory overhead Raw materials inventory 5 April 30 Factory overhead Cash lol 6 April 30 Work in process inventory Factory overhead 7 April 30 Factory overhead Cash GLO201 (Algo) - Based on Problem 2-2A LO P1, P2, P3, P4 Fox Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 $ 32,200 23,200 11,600 $ 39,800 19,600 9,800 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 30 138,200 91,400 ? Finished (sold) 224,800 158,000 ? Finished (unsold) $ 101,600 106,600 ? In process Additional Information a. Raw Materials Inventory has a March 31 balance of $88,000. b. Raw materials purchases in April are $503,200, and total factory payroll cost in April is $380,600. C. Actual overhead costs incurred in April are indirect materials, $51,600; indirect labor, $24,600; factory rent, $33,600; factory utilities, $20,600; and factory equipment depreciation, $54,200. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $630,000 cash in April. 8 April 30 Finished goods inventory Work in process inventory 9 April 30 Cost of goods sold Finished goods inventory 10 April 30 Cash Sales 11 April 30 Cost of goods sold Factory overhead Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Calculate the amount of overhead to be applied to each of the jobs worked on during April. Then, using the drop-downs, indicate which account in the ledger should include the job's costs as of April 30. Job 306 Job 307 Job 308 April Total Beginning Work in Process (March costs) Direct materials $ Direct labor 32,200 $ 23,200 11,600 67,000 39,800 19,600 9,800 69,200 136,200 $ Overhead applied Total Beginning Work in Process inventory Costs added in April Direct materials Direct labor Overhead applied Total costs added in April Total cost of jobs 224,800 158,000 101,600 106,600 138,200 91,400 11,600 241,200 308,200 464,600 356,000 11,600 832,200 968,400 382,800 208,200 $ $ $ At the end of April, indicate which account should include each job's costs. Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Prepare a schedule of cost of goods manufactured for Fox Company for the month of April. FOX COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs added during April Total cost of work in process 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 Select the accounts used in the calculation of gross profit. Enter the amount of gross profit for Fox Company for th month of April. 0 0 Gross profit Cost of Goods Mfg Gross Profit 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 212,000 March 31 482,000 March 31 Raw materials inventory Work in process inventory No. Date Debit Credit No. Date Debit Credit Balance Balance 88,000 591,200 March 31 March 31 April 30 136,200 1 503,200 Factory Equipment Accumulated depreciation - Factory equipment No. Date Debit Credit No. Date Debit Credit Balance 518,000 Balance 161,000 March 31 March 31 Accounts payable Common stock, $5 par value No. Debit Credit No. Date Debit Credit Balance Date March 31 Balance 48,200 March 31 282,000 1 April 30 503,200 551,400 Paid-in capital in excess of par - Common Retained earnings No. Date Debit Credit Balance No. Date Debit Credit Balance 763,000 March 31 182,000 March 31