GL1501 - Based on Problem 15-1A LO C2, P1, P2, P3, P4 2 Richards Co.'s March 31 inventory of raw materials is $170,000. Raw materials purchases in April are $700,000, and factory payroll cost in April is $597,000. Overhead costs incurred in April are: indirect materials, $107,000; indirect labor $77,000; factory rent, $69,000; factory utilities, $55,000; and factory equipment depreciation, $69.000. The predetermined overhead rate is 70% of direct labor cost. Job 306 is sold for $1,100,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 398 Balances on March 31 Direct materials $ 65,000 $ 89,000 Direct labor 56,000 36,000 Applied overhead 39,200 25,200 Costs during April Direct materials 171,000 274,000 $136,000 Direct labor 157,000 240,000 123,000 Applied overhead Finished Finished In Status on April 30 (sold) (unsold) 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 Prepare journal entries for the month of April's transactions