Question

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)

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 overhead rate is 50% of direct labor cost. Job 306 is sold for $680,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $ 26,000 21,000 10,500 $ 42,000 18,000 9,000 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 136,000 104,000 200,000 155,000 $105,000 104.000 Finished (sold) Tinished (unsold) process 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 300 April Total S 25,000 21,000 10,500 42.000 18.000 68.000 39,000 19.500 9.000 From March Direct Materials Direct Labor Applied overhead Beginning goods in process For Apri Direct Materiais Direct Labor Applied overhead Total costs added in April 136.000 104,000 200,000 155.000 105.000 441.000 3.000 104.000 Total costs 30) Finished sold) Status on Apr 30 April 30 concluded in: < Prev 2 3 4 5 of 5 !!! Next >

Answer 1

Job Cost sheet

	Job 306	Job 307	Job 308	April total
From March
Direct material	26000	42000		68000
Direct labor	21000	18000		39000
Applied overhead	10500	9000		19500
Beginning goods in process	57500	69000		126500
For April
Direct material	136000	200000	105000	441000
Direct labor	104000	155000	104000	363000
Applied overhead	52000	77500	52000	181500
Total cost added in April	292000	432500	261000	985500
Total cost (April 30)	349500	501500	261000	1112000
Status on April 30	Finished (sold)	Finished (unsold)	In process
April 30 cost included in	Cost of goods sold under income statement	Finished goods inventory under balance sheet	Work in process inventory under balance sheet