Question

Required information The following information applies to the questions displayed below) Marcelino Cos March 31 inventory of raw materials is $86,000. Raw materials purchases in April are $590,000. and factory payroll cost in April is $380,000. Overhead costs incurred in April are indirect materials, $58,000, indirect labor $24,000; factory rent, $40.000factory utilities. $20,000: and factory equipment depreciation, $60,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $665,000 cash in April. Costs of the three jobs worked on in April follow. Job 308 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead status on April 30 Job 396 $ 25,00 22,00 11,000 132,050 100.000 Finished (sold) ob 207 33, 16,000 ,000 210.000 151,600 ? Tinished (un sold) 88 process Required: risbrot materiale pliadh an the total cos

Answer 1

Particulars	Job-306	Job 307	Job 308	Total
From March
Direct material	$25,000.00	$38,000.00		$63,000.00
Direct labor	$22,000.00	$16,000.00		$38,000.00
Applied overhead	$11,000.00	$8,000.00		$19,000.00
Beginning Goods In Process	$58,000.00	$62,000.00		$120,000.00
For April
Direct material	$132,000.00	$210,000.00	$100,000.00	$442,000.00
Direct labor	$100,000.00	$151,000.00	$105,000.00	$356,000.00
Applied overhead 50% X Direct laborr Cost)	$50,000.00	$75,500.00	$52,500.00	$178,000.00
Total Cost added in April	$282,000.00	$436,500.00	$257,500.00	$976,000.00
Totl Cost on April 30	$340,000.00	$498,500.00	$257,500.00	$1,096,000.00
Status on May 31	Finshed Sold	Finished (Unsold)	WIP
May 31 cost included in	Goods Sold	Finished goods inventory	Work in Process