Question: GL1501 - Based on Problem 15-1A LO C2, P1, P2, P3, P4 Cecconi Co.'s March 31 inventory of raw materials is $135,000. Raw materials

GL1501 - Based on Problem 15-1A LO C2, P1, P2, P3, P4Cecconi Co.'s March 31 inventory of raw materials is $135,000. Raw materialspurchases in April are $640,000, and factory payroll cost in April is$506,000. Overhead costs incurred in April are: indirect materials, $97,000; indirect labor,$56,000; factory rent, $65,000; factory utilities, $41,000; and factory equipment depreciation, $62,000.The predetermined overhead rate is 70% of direct labor cost. Job 306

GL1501 - Based on Problem 15-1A LO C2, P1, P2, P3, P4 Cecconi Co.'s March 31 inventory of raw materials is $135,000. Raw materials purchases in April are $640,000, and factory payroll cost in April is $506,000. Overhead costs incurred in April are: indirect materials, $97,000; indirect labor, $56,000; factory rent, $65,000; factory utilities, $41,000; and factory equipment depreciation, $62,000. The predetermined overhead rate is 70% of direct labor cost. Job 306 is sold for $910,000 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 $ 51,000 Direct labor 42,000 Applied overhead 29,400 $ 68,000 29,000 20,300 Costs during April Direct materials 157,000 253,000 $122,000 Direct labor 129,000 Applied overhead Status on April 30 ? Finished (sold) 205,000 ? Finished (unsold) 116,000 ? In process Complete this question by entering your answers in the tabs below. Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit General Journal tab - Prepare journal entries to record the transactions of Cecconi Company during the month of April. 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 Cecconi Company during the month of April. Gross Profit tab - Calculate the gross profit on the sale of job(s) during April. < Requirement General Journal >

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