a. Materials purchases (on credit), factory payroll (paid in cash), and actual overhead costs...
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Accounting
| a. | Materials purchases (on credit), factory payroll (paid in cash), and actual overhead costs including indirect materials and indirect labor. (Factory rent and utilities are paid in cash.) |
| b. | Assignment of direct materials, direct labor, and applied overhead costs to the Goods in Process Inventory. |
| c. | Transfer of Jobs 306 and 307 to the Finished Goods Inventory. |
| d. | Cost of goods sold for Job 306. |
| e. | Revenue from the sale of Job 306. |
| f. | Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. (The amount is not material.) |
| 2. | Prepare journal entries for the month of April to record the above transactions. |
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