2 of 4 2:08 Required information [The following informat pplies to the questions displayed below] Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Job 306 Job 307 Job 308 Direct materials used (in March) $ 30,000 $ 43,000 Direct labor used (in March) 21,000 Overhead applied (March) 10,500 17,000 8,500 Costs during April Direct materials used 133,000 200,000 $120,000 Direct labor used Overhead applied Status on April 30 102,000 2 Finished (sold) 152,000 104,000 ? 7 Finished (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $81,000. b. Raw materials purchases in April are $550,000, and total factory payroll cost in April is $386,000. c. Actual overhead costs incurred in April are indirect materials, $58,000; indirect labor, $28,000; factory rent, $39,000; factory utilities, $25,000; and factory equipment depreciation, $64,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $660,000 cash in April. 4 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31). Job 306 March Direct materials $ 30,000 $ Direct labor 21,000 Overhead applied 10,500 Work in process, beginning April Direct materials Direct labor Overhead applied Costs added in April Job 307 43,000 17,000 8,500 Job 308 April Total 133,000 102,000 200,000 152,000 120,000 453,000 104,000 358,000 Total costs Status on April 30 Finished (sold) Finished (unsold) In process April 30 cost included in: FL Connect Link Spring 2023 Pin af M Chi 15 HW 4 AA ezto.mheducation.com Satan-Apple about a Saved u. PIETING Uvea o URL BULUS e. Job 306 is sold for $660,000 cash in April. a Question 4 Ch. 15 N-Connect Help Save & Exit Submit Check my work Part 3 of 4 20 points 80439:29 eBook Print References a. Materials purchases (on credit). b. Direct materials used. c. Direct labor used (and paid in cash) and assigned to Work in Process Inventory. d. Indirect materials used and assigned to Factory Overhead. e. Indirect labor used (and paid in cash) and assigned to Factory Overhead. f. Overhead costs applied to Work in Process Inventory. g. Actual other overhead costs incurred (Factory rent and utilities are paid in cash.) h. Transfer of Jobs 306 and 307 to Finished Goods Inventory. i. Cost of goods sold for Job 306. j. Revenue from the sale of Job 306 received in cash. k. Close underapplied or overapplied overhead to the Cost of Goods Sold account. 3. Prepare journal entries for the month of April to record the above transactions. View transaction list Jour entry worksheet Part 4 of 4 c. Actual rent. $39,000; factory utilities, $25,000; and factory equipment depreciation, $64,000 d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $660,000 cash in April. b ints 04:39.17 4. Prepare a schedule of cost of goods manufactured for the month end April 30. MARCO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 -Book Print rences Total manufacturing costs Total cost of work in process Cost of goods manufactured Ch.15 HW 1 Saved Help Saw nts 04:38:49 Fook Prepare journal entries to record transactions a through h. a. Raw materials purchased on credit, $92,000. b. Direct materials used, $40,000. Indirect materials used, $25,000. c. Direct labor used, $45,000. Indirect labor used, $20,000. (Record using Factory Wages Payable.) d. Paid cash for other actual overhead costs, $7,750. e. Applied overhead at the rate of 120% of direct labor cost. f. Transferred cost of jobs completed to finished goods, $69,000. g. Sales of jobs on credit was $98,000. h. Cost of jobs sold was $69,000. nt ces View transaction list View journal entry worksheet