Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
0 Required information [The following information applies to the questions displayed below) Marco Company shows the following costs for three jobs worked on in April
0 Required information [The following information applies to the questions displayed below) Marco Company shows the following costs for three jobs worked on in April Balances on March 31 Job 386 Job 387 Job 308 Direct materials used in March) $ 29,400 $ 35,420 Direct labor used (in March) 20,400 18,488 Overhead applied (March) 10,400 9,420 Costs during April Direct materials used 136,000 221,000 5 101,000 Direct labor used 85,400 151, 800 186,000 Overhead applied 2 Status on April 30 Finished Finished sold) (unsold) In process 12 Additional Information a. Raw Materials Inventory has a March 31 balance of $80,400. b. Raw materials purchases in April are $501,000, and total factory payroll cost in April is $364,000. c. Actual overhead costs incurred in April are indirect materials. $50.250, indirect labor $23.250; factory rent, $32.250; factory utilities, $19,250, and factory equipment depreciation, $51.250. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $636,000 cash in April. 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31). Job 306 Job 307 Job 308 April Total $ s 29.400 20.400 10,400 35.400 18 400 9.400 March Direct materials Direct labor Overhead applied Work in process, beginning April Direct materials Direct labor Overhead applied Costs added in April Total costs Status on April 30 April 30 cost included in 136,000 85.400 221.000 151.000 101,000 105,000 458,000 342.400 Finished (sold) Finished (uso in process
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669c36af5e215_646669c36aee05d1.jpg)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started