Requirements :- 1) Journal Entries (12) 2) Schedule of Cost of Goods Manufactured (in the given format) 3) Gross Profit (in the given format)

General Journal: 1. Record the direct materials used in production 2. Record the direct labor paid & assigned to Work in Process Inventory 3. Record indirect labor paid & assigned to Factory Overhead 4. Record overhead costs applied to Work in process inventory 5. Record the cost of indirect materials used 6. Record the cost of factory utilities paid in cash 7. Record the depreciation on factory equipment 8. Record the cost of factory rent, paid in cash 9. Record the transfer of jobs 306 & 307 to finished goods inventory 10. Record the cost of goods sold for job 306 11. Record the revenue from the cash to Job 306 12. Record the assignment of any underapplied or over applied overhead to the Cost of Goods sold account. (The amount is not material)

Williams Co.'s March 31 inventory of raw materials is $210,000. Raw materials purchases in April are $770,000, and factory payroll cost in April is $701,000. Overhead costs incurred in April are indirect materials, $120,000, indirect labor, $101,000; factory rent, $62,000, factory utilities, $71,000; and factory equipment depreciation, $77,000. The predetermined overhead rate is 70% of direct labor cost. Job 306 is sold for $1,300,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $ 81,000 72,000 50,400 $113,000 44,000 38,800 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 187,000 189,000 298,000 280,000 ? Finished (unsold) $152,000 131,000 ? In process Finished (sold) 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. Dates: Mar 31 to: Apr 30 Job 306 Job 307 Job 308 April Total $ $ Beginning Work in Process (March costs) Direct materials Direct labor Applied overhead Total Beginning Work in Process inventory 81,000 72.000 50,400 203,400 113,000 44,000 30.800 187,800 $ 391,200 $ $ Costs added in April Direct materials Direct labor Applied overhead Total costs added in April 187,000 189.000 298,000 280,000 152,000 131,000 637,000 600,000 0 376,000 578,000 283,000 $ 1,237,000 Total cost of jobs At the end of April, indicate which account should include each job's costs Prepare a schedule of cost of goods manufactured for Williams Company for the month of April. Dates: Mar 31 to: Apr 30 WILLIAMS COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Book erences Total manufacturing costs added during April Total cost of work in process Select the accounts used in the calculation of gross profit. Enter the amount of gross profit for Williams Company for the month of April. Dates: Mar 31 to: Apr 30 0 0 Gross profit