Question

how do i calculate?

Required information [The following information applies to the questions displayed below.) Marcelino Co.'s March 31 inventory of raw materials is $86,000. Raw materials purchases in April are $520,000, and factory payroll cost in April is $380,000. Overhead costs incurred in April are: indirect materials, $54,000; indirect labor, $20,000; factory rent, $35,000; factory utilities, $23,000; and factory equipment depreciation, $59,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $695,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $ 30,000 22,000 11,000 $ 45,000 17,000 8,500 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 137,000 104,000 215,000 151,000 $100,000 105,000 ? Finished (sold) Finished (unsold) In process Required: 1. Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from March 31). Job 306 Job 307 Job 308 April Total $ 30,000 22,000 11,000 45,000 17,000 8,500 75,000 39,000 19,500 0 From March Direct Materials Direct Labor Applied overhead Beginning goods in process For April Direct Materials Direct Labor Applied overhead Total costs added in April 137,000 104,000 215,000 151,000 100,000 105,000 452,000 360,000 241,000 366,000 205,000 812,000 Total costs (April 30) Finished (sold) Finished (unsold) In process Status on April 30 April 30 cost included in:

Answer 1

Job 306 Job 307 Job 308 April Total from March Direct Materials $30,000 $45,000 $ 75,000 Direct Labor $22,000 $17,000 $39,000 Applied overhead $ 11,000 & 8,500 $ 19,500 Beginning goods in $63,000 $70,500 process $0 $133,500 for April Direct Materials $137,000 $215,000 $100,000 $452,000 Direct labor $104,000 $151,000 $105,000 $ 360,000 Applied overhead $2,000 $75,500 $52,500 $ 180,000 Total costs added $ 293,000 $441,500 $257,500 $992,000 in April Total costs (April 30) $356,000 $512,000 $257,500 $1,125.500 Status on April 30 finished finished (sold) (unsold) In Process April 30 cost included in Cost of finished work in goods goods Process inventory inventory sold Calculation: Beginning goods in process = (Direct Materials & Direct Labor & Applied over head) for Job 306 Beginning goods in process = ($30,000 & $ 22,000 2,600 + $ - $ 63,000

50% of direct Labor cost Applied overhead = Job 306 Applied overhead = sol x $104,000 - $52,000 Job 307 Applied overhead -50% * $151,000 - $75,500 Job 308 : Applied overhead - 50% * $105,000 - $52,500 April Total: Applied overhead = 50% * $360,000 = $180,000 Total costs added in April - Direct Materials & Direct Labort Applied overhead for Job 306 Total costs added in April = $137,000 + $ 104,000 + $52,000 = $293,000 Total costs (April 30) = (Beginning goods in process + Total costs added in April) for Job 306 : Total costs = $63,000 & $293,000 = $356,000