Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2-2a i 5 k t Maps G Google Docs: Sig... ces ! Required information Problem 2-2A (Algo) Computing and recording job costs; preparing schedule of

2-2a i 5 k t Maps G Google Docs: Sig... ces ! Required information Problem 2-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 [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 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Additional Information Job 306 $ 30,600 21,600 11,600 Problem 2-2A (Algo) Part 1 Saved 139,000 86,600 ? Finished (sold) Job 307 $36,600 19,600 10,600 Job 308 224,000 $ 104,000 154,000 ? Finished (unsold) 109,000 ? In process a. Raw Materials Inventory has a March 31 balance of $81,600. b. Raw materials purchases in April are $504,000, and total factory payroll cost in April is $367,000. c. Actual overhead costs incurred in April are indirect materials, $51,000; indirect labor, $24,000; factory rent, $33,000; factory utilities, $20,000; and factory equipment depreciation, $52,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $639,000 cash in April. S www Help Save & Exit Su Check my wa
image text in transcribed
Required information Problem 2-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 [The following information applies to the questions displayed below] Marco Company shows the following costs for three jobs worked on in April. Additional Information a. Raw Materials inventory has a March 31 balance of $81,600. b. Raw materiais purchases in April are $04,000, and total factory payroll cost in April is $367,000. c. Actual overhead costs incurred in Apritare indirect materials, $51,000; indirect labor, $24,000; factory rent, $33,000; foctory utilities, $20,000, and factory equipment depreciation, $52,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $639.000 cash in April. Required information Problem 2-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 [The following information applies to the questions displayed below] Marco Company shows the following costs for three jobs worked on in April. Additional Information a. Raw Materials inventory has a March 31 balance of $81,600. b. Raw materiais purchases in April are $04,000, and total factory payroll cost in April is $367,000. c. Actual overhead costs incurred in Apritare indirect materials, $51,000; indirect labor, $24,000; factory rent, $33,000; foctory utilities, $20,000, and factory equipment depreciation, $52,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $639.000 cash in April

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting and Reporting

Authors: Barry Elliott, Jamie Elliott

14th Edition

978-0273744535, 273744445, 273744534, 978-0273744443

More Books

Students also viewed these Accounting questions

Question

Define a derivative instrument as per U.S. GAAP and as per IFRS.

Answered: 1 week ago

Question

Using Language That Works

Answered: 1 week ago

Question

4. Are my sources relevant?

Answered: 1 week ago