Question
Acct 202... need help figuring out the gross profit for April and what the raw materials costs
Required Information [The following information applies to the questions displayed below! Marcelino Co.s March 31 inventory
Complete this question by entering your answers in the tabs below. Required 4A Required 4B Show how to present the inventorie
0 0
Add a comment Improve this question Transcribed image text
Answer #1
4-a.
Only Job 306 is sold :
Job 306
Balances on March 31
   Direct materials 29000
   Direct labor 20000
   Applied overhead 10000
Cost during April
   Direct materials 135000
   Direct labor 85000
   Applied overhead ( 50% of direct labor ) 42500
Cost of goods manufactured 321500
Sales (Job 306) 635000
(-) Cost of goods sold (Job 306) 321500
Gross profit 313500
4-b.
Raw materials inventory on March 31 80000
(+) Raw materials purchases 500000
(-) Raw materials used in April [ 135000 + 220000 + 100000 ] 455000
Raw materials inventory on April 30 125000
Only Job 308 was in process on April 30
Job 308
Costs during April :
Direct materials 100000
Direct labor 105000
Applied overhead ( 50% of direct labor ) 52500
Work in process on April 30 257500
Only Job 307 was in finihsed goods on April 30
Job 307
Balances on March 31
   Direct materials 35000
   Direct labor 18000
   Applied overhead 9000
Cost during April
   Direct materials 220000
   Direct labor 150000
   Applied overhead ( 50% of direct labor ) 75000
Cost of goods manufactured 507000
Finished goods inventory on April 30 (Job 307) 507000
Inventories
Raw materials 125000
Work in process 257500
Finished goods 507000
Total inventories 889500
Add a comment
Know the answer?
Add Answer to:
Acct 202... need help figuring out the gross profit for April and what the raw materials...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Acct 202... idk what the raw materials or gross profit might be, plz explain this to...

    Acct 202... idk what the raw materials or gross profit might be, plz explain this to me! 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. S $23,000; factory rent, $32,000; factory utilities, $19,000, and factory equipment depreciation, $51,000. The predetermined overhead rate is 50%...

  • 4-a. Compute gross profit for April. . Show how to present the inventories on the April...

    4-a. Compute gross profit for April. . Show how to present the inventories on the April 30 balance sheet Required information [The following information applies to the questions displayed below.) Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $55,000; indirect labor, $22,000; factory rent, $33,000; factory utilities, $23,000; and factory equipment depreciation, $57,000. The predetermined...

  • how do i calculate? Marcelino Co.'s March 31 inventory of raw materials is $86,000. Raw materials...

    how do i calculate? 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...

  • 4-a. Compute gross profit for April. 4.b. Show how ro present the inventories on the April...

    4-a. Compute gross profit for April. 4.b. Show how ro present the inventories on the April 30 balance sheet. 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 $88,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $383,000. Overhead costs incurred in Aprilare: indirect materials, $60,000; indirect labor, $28,000;...

  • Marcelino Co.'s March 31 inventory of raw materials is $90,000 Raw materials purchases in April are...

    Marcelino Co.'s March 31 inventory of raw materials is $90,000 Raw materials purchases in April are $520,000, and factory payroll cost in April is $375,000 Overhead costs incurred in April are indirect materials, $56,000 indirect labor, $22,000, factory rent, $34,000, factory utilities, $22,000, and factory equipment depreciation, $56,000. 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 306 Job...

  • Acct 202... need help figuring out this question! Required Information [The following information applies to the...

    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...

  • Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are...

    Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $520,000, and factory payroll cost in April is $379,000. Overhead costs incurred in April are: indirect materials, $51,000; indirect labor, $22,000; factory rent, $38,000; factory utilities, $21,000; and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $630,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job...

  • gross profit gard UF nyloneStar Login FA COMM TEXTBOOK uz Marcelino Co.'s March 31 Inventory of...

    gross profit gard UF nyloneStar Login FA COMM TEXTBOOK uz Marcelino Co.'s March 31 Inventory of raw materials is $82,000. Raw materials purchases in April are $570,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: Indirect materials, $54,000: Indirect labor, $24,000; factory rent, $39,000; factory utilities, $24,000; and factory equipment depreciation, $53,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $685,000 cash in April. Costs of the...

  • Marcelino Co.'s March 31 inventory of raw materials is $90,000. Raw materials purchases in April are...

    Marcelino Co.'s March 31 inventory of raw materials is $90,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $383,000. Overhead costs incurred in April are: indirect materials, $53,000; indirect labor, $24,000; factory rent, $31,000; factory utilities, $19,000; and factory equipment depreciation, $59,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $685,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job...

  • Chap 15 Homework Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases...

    Chap 15 Homework Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $384,000. Overhead costs incurred in Aprilare: indirect materials, $53,000; indirect labor, $28,000; factory rent, $37.000; factory utilities, $21,000; and factory equipment depreciation, $53,000. 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...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
Active Questions
ADVERTISEMENT