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Can you solve (e) (f1,f2,f3,f4) Problem 19-1A Production costs computed and recorded; reports prepared LO C2, P1, P2, P3, P4 The following information applies to
Can you solve (e) (f1,f2,f3,f4) Problem 19-1A Production costs computed and recorded; reports prepared LO C2, P1, P2, P3, P4 The following information applies to the questions displayed below. Marcelino Co.'s March 31 inventory of raw materials is $83,000. Raw materials purchases in April are $570,000, and factory payroll cost in April is $379,000. Overhead costs incurred in April are: indirect materials, $54,000; indirect labor $23,000; factory rent, $30,000; factory utilities, $24,000; and factory equipment depreciation, $58,000. The determined overhead rate is 50% of direct labor cost. Job 306 is sold for $640,000 cash in April. Costs of the three pre jobs worked on in April follow. 307 lllJob 308 Balances on March 31 Direct materials30,000 45,000 Direct labor Applied overhead 22,000 18,000 9,000 11,000 Costs during April Direct materials Direct labor Applied overhead 134,000 215,000 100,000 104,000 151,000101,000 Finished Finished In Status on April 30 (sold) (unsold) process Problem 19-1A Part 2 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. Problem 19-1A Part2 a. Materials pu 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 2 of 4 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 Journal entry worksheet 13 Record the entry for Materials purchases (on credit). Transaction inventory 570,000 Accounts payable Prev 234|of14 Next > from the sale of Job 306 rt 2 of 4 Journal entry worksheet Record the entry for Overhead costs applied to Work in Process Inventory. 178,000 Clear entry 2 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 Part 2 of 4 J. Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. (The amount is not material) 3.57 points 2. Prepare journal entries for the month of April to record the above transactions. Journal entry worksheet 13 Record the cost of indirect materials used Note: Enter debits before credits. l Journal 166,000 Is inventory 54,000 r of Jobs 306 and 307 to 3.57 points Journal entry worksheet Print f(2). Prev 2 3 4 of 14 Next > of Jobs 306 and 307 to F 3.57 points Journal entry worksheet 54 Prev 2 3 4 of 14 Next 2 of Jobs 306 and 307 to 3.57 points View list Journal entry worksheet Prev23 4 of 14 i Next >
Can you solve (e) (f1,f2,f3,f4)
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