Question

mework i Help Save & Exit Sube Check my wo Required information Problem 15-1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4 [The following information applies to the questions displayed below.) Marcelino Co.'s March 31 inventory of raw materials is $87.000. Raw materials purchases in April are $590.000, and factory payroll cost in April is $386.000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $29.000; factory rent, $40,000; factory utilities, $22,000; and factory equipment depreciation, $55,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $655.000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $31.000 24,000 12,000 $ 38,000 15,000 7,500 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 132,000 102,000 215,000 154,000 $105,000 101.000 In Finished (sold) Finished (unsold) process < Prev 67 of 7 Next >

Answer 1

3)

MARCELINO COMPANY Schedule of cost of goods manufactured for month ended April 30
Direct material used [132000+215000+105000]	452000
Direct labor [102000+154000+101000]	357000
Overhead applied [357000*50%]	178500
Total manufacturing cost	987500
Add:Work in process march 31	127500
Total cost of work in process	1115000
less:Work in process April 30	(256500)
cost of goods manufactured	858500

Working :

Beginning work in process = Cost of Job 306 + Job 307

            = [31000+24000+12000]+ [38000+15000+7500]

            = 67000+60500

            = 127500

Ending work in process = cost of Job 308

                = 105000 +101000+ (101000*50%)

             = 256500