Question: please help me with general journal A) record the purchase of materials (on credit) B) Record direct materials used in production C)Record direct labor paid
Panzarella Co.'s March 31 inventory of raw materials is $220,000. Raw materials purchases in April are $790,000, and factory payroll cost in April is $727,000. Overhead costs incurred in April are: indirect materials, $125,000; Indirect labor, $107.000; factory rent $61.000; factory utilities, $75,000; and factory equipment depreciation, $79,000. The predetermined overhead rate is 70% of direct labor cost. Job 306 is sold for $1,360,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Balances on March 31 Job 308 Direct materials $ 85,000 $119,000 Direct labor 76,000 46,000 Applied overhead 53,200 32,200 Costs during April Direct materials 191,000 384,800 $156,600 Direct labor 197,000 298,000 133,000 Applied overhead Finished Finished In Status on April 30 (sold) (unsold) process Complete this question by entering your answers in the tabs below. General Journal Trial Balance General Ledger Requirement Gross Profit Cost of Goods Mfg Job Costs Prepare journal entries for the month of April's transactions. View transaction list
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