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! Determine the total cost assigned to each job as of April 3 0 ( including the balances from March 3 1 ) . a
Determine the total cost assigned to each job as of April including the balances from March a Materlals purchases on credit
b Direct materlals used.
c Direct labor used and paid in cash and assigned to Work In Process Inventory.
d Indirect materlals used and assigned to Factory Overhead.
e Indirect labor used and paid in cash and assigned to Factory Overhead.
f Overhead costs applied to Work In Process Inventory.
g Actual other overhead costs Incurred Factory rent and utilitles are pald in cash.
h Transfer of Jobs and to Finished Goods Inventory.
I. Cost of goods sold for Job
J Revenue from the sale of Job recelved in cash.
k Close underapplied or overapplied overhead to the Cost of Goods Sold account.
Prepare journal entrles for the month of April to record the above transactions.
Journal entry worksheet
Record the entry for material purchased on credit.
Note: Enter debits before credits. Prepare a schedule of cost of goods manufactured for the month ended April a Compute gross profit for April.
b Show how the three Inventory accounts are reported on the April balance sheet.
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Req
Compute gross profit for April.
Gross profit
Required information
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 balance of $
b Raw materials purchases in April are $ and total factory payroll cost in April is $
c Actual overhead costs incurred in April are indirect materials, $; indirect labor, $; factory rent,
$; factory utilities, $; and factory equipment depreciation, $
d Predetermined overhead rate is of direct labor cost.
e Job is sold for $ cash in April.
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