1.

	Storm Concert Promotions			Valle Home Builders
Actual indirect materials costs	$	22,000		$	12,500
Actual indirect labor costs		46,000			46,500
Other overhead costs		17,000			47,000
Overhead applied		88,200			105,200

Determine whether overhead is overplied or underapplied for Storm Concert prodotions?

2.

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	April Total
From March
Direct Materials	$ 29,000	$ 35,000		$ 64,000
Direct Labor	20,000	18,000		38,000
Applied overhead	10,000	9,000		19,000
Beginning goods in process				$ 0
For April
Direct Materials	135,000	220,000	100,000	455,000
Direct Labor	85,000	150,000	105,000	340,000
Applied overhead				0
Total costs added in April	220,000	370,000	205,000	795,000
Total costs (April 30)	?	?	?	$ 0
Status on April 30	Finished (sold)	Finished (unsold)	In process
April 30 cost included in:

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.)
g.	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.)

3. Prepare journal entries for the month of April to record the above transactions

4. Prepare a schedule of cost of goods manufactured.