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problem, made need this information.Homework Answers
A. For calculating raw material = $89000+$560000-$46300-$56000
= $130000
Indirect material is transfered to factory overhead hence deducted from raw material balance.
B. Calculation of gross profit
Cogs = all cost of job 306 + underapplied overhead
= $ 344000+$21500= $365500
Gross profit= sales- cogs
= $695000-$365500
= $329500
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4.1 Compute gross profit for April. & Answer...
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Thanks for all your help!
The following information applies to the questions displayed below.) Marcelino Co.'s March 31 inventory of raw materials is $82,000. Raw materials purchases in April are $530,000, and factory payroll cost in April is $389,000. Overhead costs incurred in April are: Indirect materials, $53,000: indirect labor. $27,000; factory rent, $35,000; factory utilities, $21,000; and factory equipment depreciation, $58,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $680,000 cash in...
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Required information [The following information applies to the questions displayed below.) Marcelino Co.'s March 31 inventory of raw materials is $90,000. Raw materials purchases in April are $510,000, and factory payroll cost in April is $381,000. Overhead costs incurred in April are: indirect materials, $53,000; indirect labor, $25,000; factory rent, $36,000; factory utilities, $24,000, 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...
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4-a. Compute gross profit for April. . Show how to present the
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Saved Required information [The following information applies to the questions displayed below.) Marcelino Cols 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 overhead rate is 50% of direct labor cost. Job...
Thanks for all your help!
The following information applies to the questions displayed below.) Marcelino Co.'s March 31 inventory of raw materials is $82,000. Raw materials purchases in April are $530,000, and factory payroll cost in April is $389,000. Overhead costs incurred in April are: Indirect materials, $53,000: indirect labor. $27,000; factory rent, $35,000; factory utilities, $21,000; and factory equipment depreciation, $58,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $680,000 cash in...
Marcelino Co.'s March 31 inventory of raw materials is $90,000. Raw materials purchases in April are $510,000, and factory payroll cost in April is $381,000. Overhead costs incurred in April are: indirect materials, $53,000; indirect labor, $25,000; factory rent, $36,000; factory utilities, $24,000, 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...
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...
Required information [The following information applies to the questions displayed below.) Marcelino Co.'s March 31 inventory of raw materials is $90,000. Raw materials purchases in April are $510,000, and factory payroll cost in April is $381,000. Overhead costs incurred in April are: indirect materials, $53,000; indirect labor, $25,000; factory rent, $36,000; factory utilities, $24,000, 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...
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