Question

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 $520,000, and factory payroll cost in April is $389.000. Overhead costs incurred in April are: indirect materials, $51,000; Indirect labor, $27,000; factory rent, $39,000; factory utilities, $20,000, and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $660,000 cash in April. Costs of the three jobs worked on in April follow Job 306 Job 307 Job 308 $ 30,000 22,000 11,000 $ 35,000 14,000 7,000 Balances on March 31 Direct materials Direct labor Applied overhead Coata during April Direct materials Direct labor Applied overhead Status on April 30 $110,000 104,000 139,000 104,000 2 Pinished sold) 215.000 154,000 ? Finished funsold) In process Required:

Answer 1

				Job 306	Job 307	Job 308	April total
	From march:
	Direct materials			30000	35000	0	65000
	Direct labor			22000	14000	0	36000
	Applied overhead			11000	7000	0	18000
	Beginning goods in process (a)			63000	56000	0	119000
	For April:
	Direct materials			139000	215000	110000	464000
	Direct labor		a	104000	154000	104000	362000
	Applied overhead		a*50%	52000	77000	52000	181000
	Total costs added in april (b)			295000	446000	266000	1007000
	Total costs (April 30) (a+b)			358000	502000	266000	1126000
	Status on April 30			Finished (sold)	Finished (unsold)	in process
	April 30 cost included in:			Cost of goods sold	Finished goods	Work in process

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