Question

Marcelino Co.'s March 31 inventory of raw materials is $80,000. Raw materials purchases in April are $500,000, and factory payroll cost in April is $363.000. Overhead costs incurred in April are: indirect materials, $50,000; indirect labor $23,000; factory rent, $32,000; factory utilities. $19,000, and factory equipment depreciation, $51,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 cash in April. Costs of the three jobs worked on in April follow Job 306 Job 307 Job 308 $ 29,000 20,000 10,00 $ 35,000 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 30 135,000 85,000 ? Finished (sold) 220,000 150,000 ? Finished (unsold) $100,000 105,000 ? In process 3. Prepare a schedule of cost of goods manufactured. MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs 0 Total cost of work in process 0 Cost of goods manufactured $

Answer 1

3)

MARCELINO COMPANY
Schedule of Cost of Goods Manufactured
For Month Ended April 30
Direct materials used	$455000
Direct labor	340000
Factory overhead applied	170000
Total manufacturing costs	965000
Add: Work in process, Mar 31	121000
Total cost of work in process	1086000
Less: Work in process, April 30	257500
Cost of goods manufactured	$828500

Direct materials used= $135000+220000+100000= $455000

Direct labor= $85000+150000+105000= $340000

Factory overhead applied= $340000*50%= $170000

Work in process, Mar 31= Job 306+Job 307

= $29000+20000+10000+35000+18000+9000= $121000

Work in process, April 30= Job 308

= $100000+105000+(105000*50%)= $257500

NOTE:- Please rate the answer and for any problem regarding the answer please ask in the comment section.