Problem $4-43($Algo$)$ Cost Flows; Application of Overhead $[$LO $4-3,4-4,4-5]$

Dream Makers is a small manufacturer of gold and platinum jewelry. It uses a job costing system that applies overhead on the basis of direct labor hours. Budgeted factory overhead for the year was $$573,300,$ and management budgeted $39,000$ direct labor$-$hours. The company had no Materials, Work$-$in$-$Process, or Finished Goods Inventory at the beginning of April. These transactions were recorded during April:

April insurance cost for the manufacturing property and equipment was $$2,350.$ The premium had been paid in January.

Recorded $$1,410$ depreciation on an administrative asset.

Purchased $21$ pounds of high$-$grade polishing materials at $$16$ per pound $($indirect materials$).$

Paid factory utility bill, $$6,950,$ in cash.

Incurred $4,000$ hours and paid payroll costs of $$160,000.$ Of this amount, $1,000$ hours and $$20,000$ were indirect labor costs.

Incurred and paid other factory overhead costs, $$6,600.$

Purchased $$30,000$ of materials. Direct materials included unpolished semiprecious stones and gold. Indirect materials included supplies and polishing materials.

Requisitioned $$24,000$ of direct materials and $$2,700$ of indirect materials from Materials Inventory.

Incurred miscellaneous selling and administrative expenses, $$7,200.$

Incurred $$4,660$ depreciation on manufacturing equipment for April.

Paid advertising expenses in cash, $$3,475.$

Applied factory overhead to production on the basis of direct labor hours.

Completed goods costing $$69,500$ during the month.

Made sales on account in April, $$70,720.$ The Cost of Goods Sold was $$57,100.$