Walters Co's March 31 Inventory of raw materials is $100,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $415,000. Overhead costs incurred in April are: Indirect materials. $87,000, Indirect labor. $35.000, factory rent. $33,000, factory utilities, 527,000, and factory equipment depreciation, $55,000. The predetermined overhead rate is 60% of direct labor cost Job 306 is sold for $710,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 Balonces on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 $ 37,000 28.000 16,800 143.000 101,000 47,000 22,000 13,200 232.000 170,000 $100.000 109,000 Finished (old) (unsold) process Complete this question by entering your answers in the tabs below. Requirement General Journal General Trial Balance Ledger Job Costs Cost of Goods Gross Profit Dates: Mar 31 to: Apr 30 General Ledger Account Cash Accounts receivable, net Debit Credit Debit Credit No. Dato Balance 190.000 Date Mar 31 Apr 30 Apr 30 Apr 30 Apr 30 Apr 30 380,000 35,000 27.000 33,000 Balance 490,000 110,000 75,000 48.000 15,000 725,000 710.000 Raw materials inventory Dobil Credil Work in process inventory Debit Credit Date Mar 31 Apr 30 Apr 30 A 10 0 000 Balance 100,000 680,000 197,000 110.000 Date Mar 31 Apr 30 Apr 30 Apr 30 Balance 164,000 547.000 1,027.000 1255,000 483.000 87.000 433,000 380,000 228.000 3 5 2 6 - Apr 30 Apr 30 483.000 87,000 197,000 110,000 3 5 Apr 30 Apr 30 Apr 30 3 80,000 228,000 1,027.000 1,255,000 282,400 972,600 Finished goods inventory Debit Credit No. No. Date Mar 31 Apr 30 Apr 30 Balance 0 9 72,600 5 86.200 - 972, 600 10 11 386,400 CA Factory overhead Date Debit Credit Balance Mar 31 Apr 30 35,000 35,000 Apr 30 228,000 (193,000) Apr 30 87,000 (106,000) Apr 303327.000 (79,000) Apr 30 55,000 (24,000) Apr 30 R 33.000 9,000 Apr 309 ,0000 Date Mar 31 Factory Equipment Accumulated depreciation - Factory equipment Debit Credit Balance No Date Debit Credit Balance 550,000322 Mar 313 165.000 - Apr 30 33 55,000 220,000 SSSS Accounts payable Common stock, 55 par value Debit Credit Balance No. 3 Date Debit Credit Balance 53.000 Mar 31 254,000 580,0003 633,000 No. Date Mar 31 Apr 30 Retained earnings No. Paid-in capital in excess of par - Common Dato Debit Credit Balance Mar 31 154.000 Debit Credit Date Mar 31 Balance 874,000 Sales No. Cost of goods sold Debit Credit Date Debit Credit Credit Balance No. Date Balance - 12 Apr 30 710,000 710,000 1 1 11 Apr 30 Apr 309 386,400 ,000 386,400 395,400 tn 31n head colory equ eneral 100.000 Raw materia Walters CO's March 31 Inventory of raw materials is $100,000 Raw materials purchases in April are $580.000, and factory payroll cost in April is $415.000. Overhead costs incurred in April are Indirect materials, $87,000; indirect labor, $35.000; factory rent, $33,000, factory utilities, $27,000, and factory equipment depreciation, $55,000. The predetermined overhead rate is 60% of direct labor cost. Job 306 is sold for $710.000 cash in April Costs of the three jobs worked on in April follow Job 306 Job 307 Job 308 Balances on March 31 37,000 47,000 Direct labor Applied overhead 16,800 13,200 Costs during April Direct materials 143,000 232,000 $100,000 Direct labor 101,000 170,000 109,000 Applied overhead Status on April 30 Pinished Finished (old) (unsoid) process Direct materia 22.000 erences Complete this question by entering your answers in the tabs below. Reow General Journal General Ledger Trial Balance Costs Cost of Good Gross Profit Mfg Gross Profit Prepare a schedule of cost of goods manufactured for Walters Company for the month of April Dates: Mar 31 to: Apr 30 WALTERS COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs added during April Total cost of work in process c ol Costs Gross Profit 28,000 16.800 22,000 13.200 eBook Direct Labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Statue on April 30 143,000 101,000 ferences 232.000 $100,000 170,000 109,000 in thedo (unsold process Finished (old) Complete this question by entering your answers in the tabs below. Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Gross Profit Mfg Dates: Mar 31 to: Apr 30 Walters Company Trial Balance April 30, 2017 Debit Credit 725,000 196,000 110,000 282,400 586,200 550,000 Account Title Cash Accounts receivable, net Raw materials inventory Work in process inventory Finished goods inventory Factory Equipment Accumulated depreciation - Factory equipment Accounts payable Common stock, 55 par value Pald-in capital in excess of par - Common Retained camnings Sales Cost of goods sold Total 220,000 633,000 254,000 154,000 874,000 710,000 395.400 ,845,000 $ 5 2 2,845,000