Job Cost Flows, Journal Entries

On April 1, Sangvikar Company had the following balances in itsinventory accounts:

Materials Inventory	$12,720
Work-in-Process Inventory	21,350
Finished Goods Inventory	8,700

Work-in-process inventory is made up of three jobs with thefollowing costs:

	Job 114	Job 115	Job 116
Direct materials	$2,804	$2,640	$3,650
Direct labor	1,800	1,560	4,300
Applied overhead	1,080	936	2,580

During April, Sangvikar experienced the transactions listedbelow.

1. Materials purchased on account, $28,000.
2. Materials requisitioned: Job 114, $16,500; Job 115, $12,400;and Job 116, $5,000.
3. Job tickets were collected and summarized: Job 114, 150 hoursat $15 per hour; Job 115, 220 hours at $17 per hour; and Job 116,80 hours at $18 per hour.
4. Overhead is applied on the basis of direct labor cost.
5. Actual overhead was $4,765.
6. Job 115 was completed and transferred to the finished goodswarehouse.
7. (1) Job 115 was shipped, and (2) the customer was billed for125 percent of the cost.

Required:

1. Prepare journal entries for the Apriltransactions.

a.
b.
c.
d.
e.
f.
g (1).
g (2).

2. Calculate the ending balances of each of theinventory accounts as of April 30. Post the entries to theT-accounts in the same order in which they were journalized.

Materials

Work in Process

Finished Goods