1 104 Required information Problem 15-1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4 The following information applies to the questions displayed below) Marcelino Cos March 31 inventory of raw materials is $85,000 Raw materials purchases in April are $560,000, and factory payroll cost in April is $388,000 Overhead costs incurred in April are indirect materials, $51,000, indirect labor $29,000, factory rent . $31000, factory utilities $21000, and factory equipment depreciation, $58,000. The predetermined overhead rate is 50% of direct labor cost Job 306 is sold for 5675.000 cash in April Costs of the three jobs worked on in April follow Job 306 Job 307 Job 308 $ 31,00 22,000 11.000 $ 38,000 13,000 6,500 balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 nes 140,000 102,600 210,000 155,000 $120,000 182,00 ? In process Finished (sold) Finished (unsold) Problem 15-1A Part 1 Prey 1 2 3 4 of 4 Next > 1. Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and the total com assigned to each job (including the balances from March 31) of 4 06 307 Job 300 Apital $ 31,000 5 22,000 38,000 13.000 6,500 $ 69,000 35.000 17,500 11.000 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 140,000 102.000 210,000 155.000 120.000 102,000 470,000 359.000 Finished (sold) Finished (unsold) In process Prey 12 3 4 of 4 Next > Check POLS Problem 15-1A Part 2 4 a. Materials purchases (on credit). b. Direct materials used in production c. Direct labor paid and assigned to Work in Process Inventory d. Indirect labor paid and assigned to Factory Overhead e. Overhead costs applied to Work in Process Inventory f. Actual overhead costs incurred, including indirect materials (Factory rent and utilities are paid in cash) 9. Transfer of Jobs 306 and 307 to Finished Goods Inventory h. Cost of goods sold for Job 306. i. Revenue from the sale of Job 306. j. Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. (The amount is not material, 2. Prepare journal entries for the month of April to record the above transactions View transaction list Inurnal antru urarkchoot 2 SINNE Required information Journal entry worksheet 2 of 4 Problem 15-1A Part 3 4 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 Total cost of work in process Cost of goods manufactured G so) (SOLD) Che Problem 15-1A Part 4 -4 4-6. Compute gross profit for April 4-6. Show how to present the inventories on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Required 4A Required 4B Compute gross profit for April Gross profit Required 48