Question

Chap 15 Homework Marcelino Co.'s March 31 inventory of raw materials is $88.000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $384.000. Overhead costs incurred in Aprilare: indirect materials, $53,000; indirect labor, $28.000; factory rent, $37.000; factory utilities, $21,000, and factory equipment depreciation, S53,000. 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 307 Job 308 Part of 4 $ 25,000 24,000 12,000 $39,000 17,000 8,500 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 125 134,000 102.000 $105,000 102.000 points 220,000 152,000 Finished (unsold) Skipped Finished (sold) In process 3. Prepare a schedule of cost of goods manufactured References MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs Total cost of work in process

Answer 1

MARCELINO COMPANY Schedule of cost of Goods Manufactured - for month Ended Apsie 30 Direct materials used $ 459,000 Direct labor used |$356,000 factory overhead applied $ 178,000 - Total manufacturing costs. $993,000 Addi work in process March 31 $125,500 Total cost of work in process $1,118,500 less: work in process April 30 $ 258,000 cost of goods manufactured |$860,soo Calculation's Total Manufacturing costs =Direct materials used & Direct Labor used & factory overhead applied) = $ 459,000 + $356,000 + $ 178,000 = $993,000

March $41,000 Calculation: Job 306 Job 307 Job 308 April Total from Direct Materials $25,000 $39,000 $64,000 Direct labor $24,000 $17,000 Applied overhead $12,000 $8,500 $20,5oo Beginning goods in process $61,000 $64,500 $0 $125,500 for April Direct Materials $134,000 $220,000 $105,000 $459,000 Direct labor $102,000 $152,000 $102,000 $356,000 Applied overhead $51,000 $76,000 $51,000 $178,000 Total costs added in April $287,000 $448,000 $250,000 $993,000 Total costs (April 30) $348,000 $512,500 $258,000 $1,118,500 I finished finished a Status on April 30 . (sold) Cunsold) In Process cost of finished work in proces April 30 cost included in / inventory goods sold goods I Inventory Applied overhead & so% of Direct labor cost Job 306. Applied overtread = So% & $102,000 - $51,000 Job 307! Applied overhead & 50% * $152,000 - $76,000 Job 308: Applied overhead = 50% * $102,000 - $51,000 Total costs (April 30) = Beginning goods in process + Total costs added in April Job 306: Total costs = $61,000 & $207,000 a $348,000