AAA Fox Company shows the following costs for three jobs worked on in April.Balances on March 31Direct materials (in March)Direct labor (in March)Applied overhead (March)Costs during AprilDirect materialsDirect laborApplied overheadStatus on April 30RequirementJob 386GeneralJournal$ 32,20023,20011,600GeneralLedger138,20091,400?Finished(sold)Job 387$ 39,80019,6009,800224,800158,000?Additional Informationa. 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; factoryutilities, $20,600; and factory equipment depreciation, $54,200.d. Predetermined overhead rate is 50% of direct labor cost.e. Job 306 is sold for $630,000 cash in April.Finished(unsold)Complete this question by entering your answers in the tabs below.Job 388Trial Balance Job Costs< Requirement$ 101,600106, 600?In processCost of GoodsMfgGeneral Journal tab - Prepare journal entries to record the transactions of Fox Company during the month of April.General Ledger tab - One of the advantages of general ledger software is that posting is done automatically. To see thedetail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on theGeneral Ledger tab.Trial Balance tab - General ledger software also automates the preparation of trial balances. A trial balance lists eachaccount from the General Ledger, along with its balance, either a debit or a credit. Total debits should always equal totalcredits.Gross ProfitJob Costs tab - Calculate the total cost, and account classification for each job worked on during April.Cost of Goods Manufactured tab - Prepare a schedule of cost of goods manufactured for Fox Company during the monthof April.Gross Profit tab - Calculate the gross profit on the sale of job(s) during April.General Journal >

Name: AAA Fox Company shows the following costs for three jobs worked on in
Uploaded: 2024-03-20T06:32:49.000Z
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Description: AAA Fox Company shows the following costs for three jobs worked on in April.Balances on March 31Direct materials (in March)Direct labor (in March)Applied overhead (March)Costs during AprilDirect materialsDirect laborApplied overheadStatus on April 30

The final stage of the accounting process is called "Final Accounts," where the various ledgers kept…

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Fox 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 Additional Information Job 386 $ 32,200 23,200 11,600 Requirement 138,200 91,400 ? Finished (sold) General Journal General Ledger Job 387 $ 39,800 19,600 9,800 d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $630,000 cash in April. 224,800 158,000 ? 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. Finished (unsold) Complete this question by entering your answers in the tabs below. Job 308 $ 101,600 106,600 ? In process Requirement Trial Balance Job Costs Cost of Goods Gross Profit Mfg General Journal tab - Prepare journal entries to record the transactions of Fox Company during the month of April. General Ledger tab - One of the advantages of general ledger software is that posting is done automatically. To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab. Trial Balance tab - General ledger software also automates the preparation of trial balances. A trial balance lists each account from the General Ledger, along with its balance, either a debit or a credit. Total debits should always equal total credits. Job Costs tab- Calculate the total cost, and account classification for each job worked on during April. Cost of Goods Manufactured tab - Prepare a schedule of cost of goods manufactured for Fox Company during the month of April. Gross Profit tab- Calculate the gross profit on the sale of job(s) during April. General Journal >