GLO201 - Based on Problem 02-1A Marcelino Company LO C2, P1, P2, P3, P4 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 307 Job 308 $ 29,000 20,000 10,000 $ 35,000 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 85,600 220,000 150,000 ? Finished (unsold) $180,000 105,000 ? In process Finished (sold) Complete this question by entering your answers in the tabs below. General General Requirement Journal Trial Balance Cost of Goods Ledger Job Costs Gross Profit Mig 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 month of April Gross Profit tab - Calculate the gross profit on the sale of job(s) during April Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mg Gross Profit Calculate the amount of overhead to be applied to each of the jobs worked on during April. Then, using the drop-downs, indicate 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 S 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 s 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 General Journal Requirement 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 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 ( Cost of Goods Mfg GoPro UERER Utas Trial Balance Job Costs LULUI Jurus Mfg Gross Profit Requirement Journal Ledger Prepare journal entries for the month of April's transactions View transaction list Journal entry worksheet
