Question

Required information The following information applies to the questions displayed below) Marcelino Co's March 31 inventory of raw materials is $89.000. Raw materials purchases in April are $540,000 and factory payroll cost in April is $384.000 Overhead costs incurred in Aprilare: indirect materials, $54.000 indirector $26.000 factory rent, $32,000, factory utilities, $20,000: and factory equipment depreciation. 552.000 The predetermined overhead rate is 50% of direct labor cost Job 306 is sold for $640,000 cash in April Costs of the tree jobs worked on in April follow. Job 306 Job 307 3ob305 $26.00 23,000 11,500 $ 43,000 18.00 9,000 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 135,000 103,000 220,000 151.000 $100, eee 104,000 Finished (unsold) In process Finished (sold) Required: 1. Determine the total of each production cost incurred for April direct labor direct materials and old Next > 3 4 5 of 21 < Prey

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Answer 1

Answer: Job 306 Job 307 Job 308 April Total 26,000 23,000 11,500 60,500 43,000 18,000 9,000 70,000 69,000 41,000 20,500 130,500 From March: Direct Materials Direct Labor Applied Overhead Beginning Goods in process For April: Direct Materials Direct Labor Applied Overhead Total Costs added in April Total Costs (April 30) Status on April 30 April 30 Cost included in: 135,000 103,000 51,500 289,500 350,000 Finished (Sold) Cost of Goods Sold 220,000 100,000 151,000 104,000 75,500 52,000 446,500 256,000 516,500 256,000 Finished (Unsold) In Process Finished Goods Inventory Work in Process Inventory 455,000 358,000 179,000 992,000 1,122,500