F Step 1: Jobcost sheets for the May 2020 45% Model 1 Model 2 Models Job 306 Job 307 Job 308 May Total Job 306 Job 307 Job 308 34,800 24,000 42,000 21,600 1 Data used to complete May reports 2 Predetermined overhead rate using direct labor cos 3 4 Costs of the three jobs worked on in Mayfollow. 5 Polances of WIP on March 31 6 Direct materials 7 Direct labor 8 9 Coses during May 10 Direct materials 47 11 Direct labor 12 40 13 Actual overhead costs incurred in May: 14 Indirect material 15 Indirect labor Beginning Work in Process (March costs) Direct materials . Direct labor Applied overhead in Total Beginning Work in Process inventory Costs added in May Direct materials . Direct labor Applied overhead Total costs added in May Total cost of jobs 162,000 264,000 120,000 102,000 180,000 126,000 16 Factory rent 42,000 26,500 39,600 21,800 61,200 Step 2: MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended May 31, 2020 762,000 Step 3: 17 Factory utilities 18 Factory equipment depreciation 19 20 Job 306 and 307 are completed, Job 308 is in process 21 Job 306 is sold for $762,000 cash in April. 22 23 24 25 26 27 28 29 30 31 32 32 33 33 34 34 35 35 36 36 37 37 38 39 39 30 40 41 42 12 43 44 45 43 40 46 47 48 49 MARCELINO COMPANY Factory Overhead May 2020 Debit 42,000 Credit Account Indirect material Balance 42,000 Step 4: MARCELINO COMPANY Gross Profit For Month Ended May 31, 2020 Sales Cost of Goods Sold Gross Profit