Marco Company shows the following costs for three jobs worked on in April. Job 306 Job...
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Marco Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials used (in March) $ 33,000 Direct labor used (in March) 24,000 $ 39,000 22,000 Overhead applied (March) 14,000 13,000 Costs during April Direct materials used 145,000 Direct labor used Overhead applied Status on April 30 89,000 ? Finished (sold) 230,000 $110,000 160,000 ? Finished (unsold) 115,000 ? In process Additional Information a. Raw Materials Inventory has a March 31 balance of $84,000. b. Raw materials purchases in April are $510,000, and total factory payroll cost in April is $373,000. c. Actual overhead costs incurred in April are indirect materials, $52,500; indirect labor, $25,500; factory rent, $34,500; factory utilities, $21,500; and factory equipment depreciation, $53,500. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $645,000 cash in April. Required: 1. Determine the amount of overhead applied to each job in April. Predetermined overhead rate Overhead applied 306 307 308 April Total Marco Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials used (in March) $ 33,000 Direct labor used (in March) 24,000 $ 39,000 22,000 Overhead applied (March) 14,000 13,000 Costs during April Direct materials used 145,000 Direct labor used Overhead applied Status on April 30 89,000 ? Finished (sold) 230,000 $110,000 160,000 ? Finished (unsold) 115,000 ? In process Additional Information a. Raw Materials Inventory has a March 31 balance of $84,000. b. Raw materials purchases in April are $510,000, and total factory payroll cost in April is $373,000. c. Actual overhead costs incurred in April are indirect materials, $52,500; indirect labor, $25,500; factory rent, $34,500; factory utilities, $21,500; and factory equipment depreciation, $53,500. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $645,000 cash in April. Required: 1. Determine the amount of overhead applied to each job in April. Predetermined overhead rate Overhead applied 306 307 308 April Total
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