Question

Egert Co.’s March 31 inventory of raw materials is $95,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $402,000. Overhead costs incurred in April are: indirect materials, $94,000; indirect labor, $32,000; factory rent, $62,000; factory utilities, $25,000; and factory equipment depreciation, $54,000. The predetermined overhead rate is 70% 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
Direct materials		$	35,000			$	44,000
Direct labor			26,000				21,000
Applied overhead			18,200				14,700
Costs during April
Direct materials			141,000				229,000			$	106,000
Direct labor			97,000				165,000				108,000
Applied overhead			?				?				?
Status on April 30	Finished (sold)				Finished (unsold)					In process

No  Date          Account Title                   Debit               Credit

1   Apr 30     Raw materials inventory   580,000

                     Accounts payable                                     580,000

2 Apr 30       Work in process inventory 476,000

                     Raw materials inventory                           476,000

3 Apr 30       Work in process inventory 370,000

                    Cash                                                            370,000

4 Apr 30       Factory overhead               32,000

                    Cash                                                            32,000

5 Apr 30        Work in process inventory    259,000

                    Factory overhead                                        259,000

6 Apr 30        Factory overhead                94,000

                    Raw materials inventory                            94,000

7 Apr 30        Factory overhead               25,000

                      Cash                                                        25,000

8 Apr 30        Factory overhead                54,000

                      Accumulated depreciation -                     54,000

                      Factory equipment

9 Apr 30        Factory overhead                62,000

                        Cash                                                    62,000

10 Apr 30        Finished goods inventory  ??

                        Work in process inventory                        ??

11 Apr 30        Cost of goods sold                  ??

                        Finished goods inventory                            ??

12 Apr 30         Cash                                    710,000

                        Sales                                                        710,000

13 Apr 30         Cost of goods sold                     ???

                         Factory overhead                                        ???