Close underapplied or overapplied overhead to the Cost of Goods Sold account. Prepare journal entries for the month of April to record the above transactions. Journal entry worksheet Record the actual other overhead costs incurred (Factory rent and utilities are paid in cash.) Note: Enter debits before credits. b. Raw materials purchases in Aprit are- $590,000, and total factory payroll cost c. Actual overthend costs incutred in April are indirect materials, 558,000 , indite factory utilies. $23,000; and factory equipmerit depreciatisn, 554.000. d. Predetermined overheod rate is 50% of direct labor cost. e. Job 306 is sold for $670,000 cash in April. Problem 2-2A (Algo) Part 5 5-a. Compute aross profit for Aprii. 5-b. Show how the three inventory accounts are reported on the April 30 balutice shet Complete this question by entering your answers in the tabs below. Show how the three inventory accounts are reported on the April 30 balance sheet. Additional Information a. Raw Materials inventory has a March 31 baiance of $85.000. b. Raw materials purchases in April are $590,000, and total factory payr c. Actual overhead costs incurred in Aptil are indireet materiais, $58,000 factory utilities, \$23,000, and factory equipment depreciation, $54,00 d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $670.000 cash in April Problem 2-2A (Algo) Part 5 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 balani Complete this question by entering your answers in the tabs below. Compute gross profit for April. Requlred information Problem 2.2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2,P3,PA (The following infarmation apoles to the questoas didplayed below/ Marco Company shoms the fohbeving costs for thecejobs worked on int April Additional Information a. Rew Moterials Ifiventofy has a March 3 bolonce of 585.000. b. RNw materials purcheses in Agril are 5590.000, and total factory poytoll cost in Agril 2$378.000. c. Actual overtiead costs incurred in Aprit are indirect materiats, 358.000, indirect labor. 324.000 foctory rent. 331000 . factory utittier, 523,000 ; and factory equipment deprecimion, 554,000 . d. Predetermined overtede rate a 501 , of dnect labor cort e. Job 306 is sold for 9620000 coth in Aprit Problem 2.2A (Algo) Part 5 5-a. Compute gross prof t for Aprel 5.b. Shew how the three itioentofy sccorits ate reported on the April 30 belance steted 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 $85,000. b. Raw materials purchases in April are $590,000, and total factory payroll cost in April is $378,000. c. Actual overhead costs incurred in April are indirect materials, $58,000; indirect labor, $24,000; factory rent, $31,000; factory utilities, $23,000; and factory equipment depreciation, $54,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $670,000 cash in Aprili. Problem 2-2A (Algo) Part 2 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31). Journal entry worksheet Record the actual other overhead costs incurred (Factory rent and utilities are paid in cash.) Note: Enter debits before credits. 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 balance shee Complete this question by entering your answers in the tabs below. Compute gross profit for April. 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 Complete this question by entering your answers in the tabs below. Show how the three inventory accounts are reported on the April 30 balance
