Ch 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 387 Job 308 $ 29,000 20,000 10,000 $ 35, eee 18,000 9,000 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 135,000 220,000 150,000 85,000 $100,000 105,000 ? ? ? Finished (sold) Finished (unsold) In process Complete this question by entering your answers in the tabs below. Requirement General General Journal Cost of Goods Job Costs Ledger Trial Balance Mfg Gross Profit General Journal tab - Prepare journal entries to record the transactions of Marcelino Company during the month of April. Job Costs tab Calculate the total cost, and account classification for each job worked on during April Cost of Goods Manufactured tab. Prepare a schedule of cost of goods manufactured for Marcelino Company during the Af Anil Prev 1 of 1 !!! Next View transaction list X: x 13 1 a. Record the purchase of materials (on credit). 2 b. Record direct materials used in production. 1 to the 3 c. Record direct labor paid and assigned to Work in Process Inventory. 4 d. Record indirect labor paid and assigned to Factory Overhead. Credit 5 e. Record overhead costs applied to Work in Process Inventory 6 f1. Record the cost of indirect materials used. Note : journal entry has been entered Dad ALAM Mwanata 7 f2. Record the cost of factory utilities paid in cash. 8 f3. Record the depreciation on factory equipment. 1 to 9 f4. Record the cost of factory rent, paid in cash. 10 g. Record the transfer of Jobs 306 and 307 to Finished Goods Inventory. Cr 11 h. Record the cost of goods sold for Job 306. 12 1. Record the revenue from the cash sale of Job 306. 13 1. Record the assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. General Journal Trial Balance General Ledger Job Costs Gross Profit Cost of Goods Mfg Requirement Dates: Mar 31 to: Apr 30 General Ledger Account Accounts receivable, net Cash Credit No. Debit No. Credit Debit Date Mar 31 Balance 450,000 Date Mar 31 Balance 180,000 Raw materials inventory Debit Credit Work in process inventory Debit Credit No. No. Date Mar 31 Balance 80,000 Date Mar 31 Balance 121,000 Factory Equipment Debit Credit No. Accumulated depreciation - Factory equipment Date Debit Credit Balance Mar 31 153,000 No. Balance 510,000 Date Mar 31 Accounts payable Debit No. Common stock, $5 par value Date Debit Credit Mar 31 No. Credit Balance 45,000 Date Mar 31 Balance 250,000 Retained earnings Debit Credit No. Paid-in capital in excess of par - Common Date Debit Credit Mar 31 No. Balance 150,000 Date Mar 31 Balance 743,000 > Requirement General Journal General Ledger Trial Balance Gross Profit Job Costs Cost of Goods Mfg Dates: Mar 31 to: Apr 30 Marcelino Company Trial Balance April 30, 2019 Account Title Debit Credit S 450,000 180,000 80,000 121,000 510,000 Cash Accounts receivable, net Raw materials inventory Work in process inventory Factory Equipment Accumulated depreciation - Factory equipment Accounts payable Common stock, $5 par value Pald.in capital in excess of par - Common Retained earnings Total 153,000 45,000 250,000 150,000 743,000 1,341,000 1.341,000 $ Requirement General Journal General Ledger Trial Balance Jo Costs Cost of Goods Mfg Gross Profit Calculate the amount of overhead to be applied to each of the jobs worked on during April. Then, using the drop-downs, indic which account in the ledger should include the job's costs as of April 30. Dates: Mar 31 to: Apr 30 Job 306 Job 307 Job 308 April Total $ Beginning Work in Process (March costs) Direct materials Direct labor Applied overhead Total Beginning Work in Process inventory 29,000 $ 20,000 10,000 59,000 35,000 18,000 9,000 62.000 $ 121,000 $ Costs added in April Direct materials Direct labor Applied overhead Total costs added in April 135,000 $ 85,000 220,000 150,000 100,000 105,000 455,000 340,000 Total cost of jobs At the end of April, indicate which account should include each job's costs. Trial Balance Cost of Goods Mfg > Cost of Goods Mfg Complete this question by entering your answers in the tabs below. Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Prepare a schedule of cost of goods manufactured for Marcelino Company for the month of April. Dates: Mar 31 to: Apr 30 MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 nces Total manufacturing costs added during April Total cost of work in process Complete this question by entering your answers in the tabs below. Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Select the accounts used in the calculation of gross profit. Enter the amount of gross profit for Marcelino Company for the month of April. Dates: Mar 31 to: Apr 30 Gross profit