Question

Required information Problem 15-1A Production costs computed and recorded; reports prepared LO C2, P1, P2, P3, P4 The following information applies to the questions displayed below) Marcelino Co.'s March 31 inventory of raw materials is $85,000. Raw materials purchases in April are $530,000, and factory payroll cost in April is $382,000. Overhead costs incurred in April are indirect materials, $53,000, indirect labor, $27,000, factory rent, $36,000, factory utilities, $22,000, 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 307 $ 28,000 24,000 12,000 $ 43,000 13,000 6,500 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 131,000 103,000 200,000 151,000 $110.000 101,000 Finished (sold) Finished (unsold) In process

Answer 1

3) Schedule of cost of goods manufactured

Direct material	441000
Direct labor	355000
Manufacturing overhead	177500
Total manufacturing cost	973500
Beginning work in process	126500
Total Cost of work in process	1100000
Less: Ending work in process	-261500
Cost of goods manufactured	838500