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Marcelino Co.'s March 31 inventory of raw materials is $85,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $59,000; indirect labor, $28,000; factory rent, $33,000; factory utilities, $21,000; and factory equipment depreciation, $52,000. 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 307				Job 308
Balances on March 31
Direct materials		$	26,000			$	40,000
Direct labor			22,000				15,000
Applied overhead			11,000				7,500
Costs during April
Direct materials			132,000				215,000			$	110,000
Direct labor			102,000				153,000				102,000
Applied overhead			?				?				?
Status on April 30	Finished (sold)				Finished (unsold)					In process

rev: 03_14_2018_QC_CS-121813

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 Direct Materials Direct Labor Applied overhead 26,000 22,000 11,000 40,000 15,000 7,500 $ 66,000 37,000 18,500 Beginning goods in process For April Direct Materials 132,000 215,000 153,000 110,000 457,000 Direct Labor 102,000 102,000 357,000 Applied overhead Total costs added in April Total costs (April 30) Status on April 30 April 30 cost included in 234,000 368,000 212,000 814,000 Finished (sold) Finished (unsold) In process

Answer 1

Job cost sheet

	Job 306	Job 307	Job 308	Total
From March
Direct material	26000	40000		66000
Direct labor	22000	15000		37000
Applied overhead	11000	7500		18500
Total beginning goods in process	59000	62500		121500
For April
Direct material	132000	215000	110000	457000
Direct labor	102000	153000	102000	357000
Applied overhead	51000	76500	51000	178500
Total cost added in april	285000	444500	263000	992500
Total Cost (april 30)	344000	507000	263000	1114000
Status on april 30	Finished (sold)	Finished (unsold)	In process
April 30 Cost included in	Income statement	balance sheet	Balance sheet