Ciolino Co.'s March 31 inventory of raw materials is $140,000. Raw materials purchases in April are $460,000, and factory payroll cost in April is $210,000. Overhead costs incurred in April are: indirect materials, $27,000; indirect labor, $12,000; factory rent, $22,000; factory utilities, $11,000; and factory equipment depreciation, $51,000. The predetermined overhead rate is 60% of direct labor cost. Job 306 is sold for $400,000 cash in April. Costs of the three jobs worked on in April follow.

	Job 306				Job 307				Job 308
Balances on March 31
Direct materials		$	11,000			$	14,000
Direct labor			12,000				12,000
Applied overhead			7,200				7,200
Costs during April
Direct materials			75,000				190,000			$	75,000
Direct labor			24,000				64,000				110,000
Applied overhead			?				?				?
Status on April 30	Finished (sold)				Finished (unsold)					In process

1. Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from March 31).

	Job 306	Job 307	Job 308	April Total
From March
Direct Materials	11,000	14,000		25,000
Direct Labor	12,000	12,000		24,000
Applied Overhead	7,200	7,200		14,400
Beginning goods in process
For April
Direct Materials	75,000	190,000	75,000	340,000
Direct Labor	24,000	64,000	110,000	198,000
Applied Overhead
Total Costs Added in April				538,000
Total Costs (April 30)
Status on April 30	Finished (sold)	Finished (unsold)	In process
April 30 cost included in:

a.	Materials purchases (on credit), factory payroll (paid in cash), and actual overhead costs including indirect materials and indirect labor. (Factory rent and utilities are paid in cash.)
b.	Assignment of direct materials, direct labor, and applied overhead costs to the Goods in Process Inventory.
c.	Transfer of Jobs 306 and 307 to the Finished Goods Inventory.
d.	Cost of goods sold for Job 306.
e.	Revenue from the sale of Job 306.
f.	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.

3.

Prepare a manufacturing statement for April (use a single line presentation for direct materials and show the details of overhead cost).

	CIOLINO COMPANY
	Manufacturing Statement
	For Month Ended April 30
Factory Overhead
Total Factory Overhead
Total Manufacturing Costs
Total Cost of goods in process
cost of goods manufactured