Question

Marcelino Co's March 31 inventory of raw materials is $87.000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $384.000. Overhead costs incurred in Aprilare: indirect materials, $58,000: Indirect labor, $23,000: factory rent, $40.000; factory utilities. $23,000, and factory equipment depreciation, $56.000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is'sold for $685.000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $ 28,000 24,000 12,000 $45.000 18.000 9.00 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 135,000 1e3,000 210.ee 153.00 $115.009 105.09 Finished (sold) Finished (unsold) In process Problem 15-1A Part 1 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 S 45 000 $ 73000 28,000 24.000 12,000 18.000 42,000 21,000 From March Direct Materials Direct Labor Applied overhead Beginning goods in process For April Direct Materials Direct Labor Applied overhead 135,000 103.000 210,000 153,000 115,000 105,000 460,000 361,000

Answer 1

	Job 306	Job 307	Job 308	April Total
From March
Direct Material	28000	45000		73000
Direct Labor	24000	18000		42000
Applied overhead	12000	9000		21000
Beginning Goods in Process	64000	72000		136000
For April
Direct Material	135000	210000	115000	460000
Direct Labor	103000	153000	105000	361000
Applied overhead @50% of Direct Wages	51500	76500	52500	180500
Total Cost Added in April	289500	439500	272500	1001500
Total Costs (April 30)	353500	511500	272500	1137500
Status on April 30	Finished (Sold)	Finished (Un Sold)	In Process
April 30 Cost Included in	Cost of goods sold	Finished Goods Inventory	Work in Process Inventory