Stam Company shows the following costs for three jobs worked on in April. 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 Job 306 $ 33,600 24,600 12,300 139,600 94, 200 ? Finished (sold) Job 307 $ 41,900 20,300 10,150. 226,900 161,500 ? Finished (unsold) Job 308 $ 102,300 107,300 ? In process Additional Information a. Raw Materials Inventory has a March 31 balance of $91,500. b. Raw materials purchases in April are $504,600, and total factory payroll cost in April is $388,300. c. Actual overhead costs incurred in April are indirect materials, $52,300; indirect labor, $25,300; factory rent, $34,300; factory utilities, $21,300; and factory equipment depreciation, $55,600. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $650,000 cash in April. 1 a. Record the purchase of materials (on credit). 2 b. Record the direct materials used. 3 c. Record direct labor used (and paid in cash) and assigned to Work in Process Inventory. 4 d. Record the indirect materials used and assigned to Factory Overhead. e. Record the indirect labor used (and paid in cash) and assigned to Factory Overhead. 6 f. Record the overhead costs applied to Work in Process Inventory. g. Record the actual other overhead costs incurred. (Factory rent and utilities are paid in cash.) 8 h. Record the transfer of Jobs 306 and 307 to Finished Goods Inventory. 9 i. Record the cost of goods sold for Job 306. 10 j. Record the revenue from the sale of Job 306 received in cash. 11 k. Record the close underapplied or overapplied overhead to the Cost of Goods Sold account. i V View transaction list > No 1 2 3 4 40 6 7 8 9 10 Date April 30 April 30 April 30 April 30 April 30 April 30 April 30 April 30 April 30 April 30 View journal entry worksheet Raw materials inventory Accounts payable Work in process inventory Raw materials inventory Work in process inventory Cash Factory overhead Account Title Work in process inventory Factory overhead No Transaction Recorded No Transaction Recorded No Transaction Recorded No Transaction Recorded No Transaction Recorded Debit 504,600 468,800 363,000 25,300 Credit 504,600 468,800 363,000 Beginning Work in Process (March costs) Direct materials Direct labor 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 At the end of April, indicate which account should include each job's costs. $ Job 306 33,600 $ 24,600 12,300 70,500 139,600 $ 94,200 233,800 Job 307 41,900 20,300 10,150 72,350 226,900 161,500 388,400 Job 308 102,300 107,300 $ 209,600 $ April Total 142,850 468,800 363,000 0 831,800 STAM COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs added during April Total cost of work in process Gross profit 0 0