Question

Acct 202... need help figuring out this question!

Required Information [The following information applies to the questions displayed below) Marcelino Co.'s March 31 Inventory of raw materials is $80,000. Raw materials purchases in April are $500,000, and factory payroll cost In April is $363,000. Overhead costs incurred in April are: Indirect materials, $50,000; Indirect labor. $23,000; factory rent, $32,000; factory utilities, $19,000; and factory equipment depreciation, $51,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 cash in April. Costs of the three jobs worked on in April follow Job 386 Job 307 $ 29,00 20, 10,000 $ 35,00 18,eee 9,800 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 $1ee, eee 105, eee 135, cee 85,00 > Finished (sold) 220, Bee 15.ee > 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 From March 5 20.000 20.000 10,000 84 000 38.000 10,000 Direct Materials Direct Labor Applied overhead Beginning goods in process For April Direct Materials Direct Labor Applied overhead Total costs added in April Total costs (April 20) 135.000 100,000 455,000 340,000 85.000 105,000 Finished (sold) Finished unsold) Status on April 30 April 20 cost included in

Answer 1

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	Job 306	Job 307	Job 308	April Total
From March
Direct Materials	$     29,000	$    35,000		$       74,000
Direct Labor	$     20,000	$    18,000		$       37,000
Applied Overheads	$     10,000	$       9,000		$       18,500
Beginning goods in process	$     59,000	$    62,000	0	$   1,29,500
For April
Direct Materials	$ 1,35,000	$ 2,20,000	$ 1,00,000	$   4,55,000
Direct Labor	$     85,000	$ 1,50,000	$ 1,05,000	$   3,40,000
Applied Overheads	$     42,500	$    75,000	$     52,500	$   1,70,000
Total cost added in April	$ 2,62,500	$ 4,45,000	$ 2,57,500	$   9,65,000
Total cost (April 30)	$ 3,21,500	$ 5,07,000	$ 2,57,500	$ 10,94,500
Status on April 30	Finished (sold)	Finished (unsold)	In process
April 30 cost included in ;	Cost of goods sold	Finished goods inventory	Work in process inventory
Notes :
For April
Applied Overheads	=	Direct Labor X 50%
Total cost (April 30)	=	Beginning goods in process + Total cost added in April