Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Job 306 $ 33,800 24,800 14,800 147,000 89,800 ? Finished (sold) $ 39,800 22,800 13,800 232,000 $ 112,000 162,000 117,000 ? ? In process Finished (unsold) Additional Information a. Raw Materials Inventory has a March 31 balance of $84,800. b. Raw materials purchases in April are $512,000, and total factory payroll cost in April is $375,000. c. Actual overhead costs incurred in April are indirect materials, $53,000; indirect labor, $26,000; fam $35,000; factory utilities, $22,000; and factory equipment depreciation, $54,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $647,000 cash in April.

Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Job 306 $ 33,800 24,800 14,800 147,000 89,800 ? Finished (sold) $ 39,800 22,800 13,800 232,000 $ 112,000 162,000 117,000 ? ? In process Finished (unsold) Additional Information a. Raw Materials Inventory has a March 31 balance of $84,800. b. Raw materials purchases in April are $512,000, and total factory payroll cost in April is $375,000. c. Actual overhead costs incurred in April are indirect materials, $53,000; indirect labor, $26,000; fam $35,000; factory utilities, $22,000; and factory equipment depreciation, $54,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $647,000 cash in April.

Name: 3. Prepare journal entries for the month of April to record the above
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Description: 3. Prepare journal entries for the month of April to record the above transactions.View transaction list View journal entry worksheetNo234567Transactionb.C.d.e.1.9.Direct materials usedDirect labor usedCashIndirect laborIndirect laborCashFactory ove

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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