Question

i need help with the total cost (april 30)

Required information Problem 15-1A Production costs computed and recorded; reports prepared LO C2, P1, P2, P3, P4 The following information applies to the questions displayed below) Marcelino Co.'s March 31 inventory of raw materials is $89,000. Raw materials purchases in April are $540,000, and factory payroll cost in April is $390,000. Overhead costs incurred in April are: indirect materials. $53,000. Indirect labor $28,000; factory rent, $30,000; factory utilities, $22,000and factory equipment depreciation, $60,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $690,000 cash in April. Costs of the three jobs worked on in April follow Job 306 Job 307 Job 308 $ 29,000 23,000 11,500 $ 43,000 17,000 8,500 Balonces on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 137,000 104,000 220,000 154,000 $110,000 104,000 Finished (sold) Finished (unsold) In process *134 of 8 Next > Lot 900

Answer 1

Job 306 Job 307 Job 308 Totals $29,000 $23,000 $11,500 $63,500 $0 $0 $43,000 $17,000 $8,500 $68,500 $72,000 $40,000 $20,000 $132,000 --> (A) Total beginning WIP $0 $0 From March: Direct Materials Direct Labors Factory Overhead Beginning goods in process For April: Direct Materials Direct Labors Factory Overhead Total costs added in April $137,000 $104,000 $52,000 $293,000 $220,000 $154,000 $77,000 $451,000 $110,000 $104,000 $52,000 $266,000 $467,000 $362,000 $181,000 (Ref: NOTE] $1,010,000 --> (B) Abbreviations used: Total costs (April 30) $266,000 $1,142,000 --> (A) + (B) COGS --> Cost of Goods Sold; Status (April 30) $356,500 Finished (Sold) COGS $519,500 Finished (Unsold) F.G. In process F.G. --> Finished Goods; April 30 cost included in: WIP WIP --> Work In Process. OH --> Overhead NOTE: OH applied for Job 306 = $104000 x 50% = $52000; Job 307 = $154000 x 50% = $77000; Job 308 = $104000 x 50% = $52000.