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 85,000 220,000 150,000 $100,000 105,000 Finished (sold) Finished (unsold) In process Cost of Goods Requirement General Journal General Ledger Trial Balance Job Costs Gross Profit Mfg Dates: Mar 31 to: Apr 30 - General Ledger Account Cash Accounts receivable, net No. Debit Credit Balance No. Debit Credit Balance Date Mar 31 Date Mar 31 450.000 180,000 Raw materials inventory Debit Credit Work in process inventory Debit Credit No. No. Date Mar 31 Apr 30 Balance 80.000 580,000 Date Mar 31 Balance 121,000 L 500.000 Accumulated depreciation - Factory equipment Factory Equipment Debit Credit | No. No. Debit Credit Date Mar 31 Balance 510,000 Date Mar 31 Balance 153,000 Accounts payable Debit Credit Common stock, $5 par value Debit Credit No. / No. Date Mar 31 Apr 30 Balance 45.000 545,000 Date Mar 31 Balance 250,000 500,000 Paid-in capital in excess of par - Common Retained earnings | No. Date Debit Credit No. Debit Credit Balance Balance 150,000 Date Mar 31 Mar 31 743,000 Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Dates: Mar 31 to: Apr 30 Marcelino Company Trial Balance April 30, 2019 Credit $ Debit 450,000 180,000 580,000 121,000 510,000 Account Title Cash Accounts receivable, net Raw materials inventory Work in process inventory Factory Equipment Accumulated depreciation - Factory equipment Accounts payable Common stock, $5 par value Paid-in capital in excess of par - Common Retained earnings Total 153,000 545,000 250,000 150,000 743,000 1,841,000 $ 1,841,000 $ Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Calculate the amount of overhead to be applied to each of the jobs worked on during April. Then, using the drop-downs, ind which account in the ledger should include the job's costs as of April 30. to: Apr 30 Dates: Mar 31 Job 308 April Total Job 306 Job 307 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 $ $ Costs added in April Direct materials Direct labor Applied overhead Total costs added in April 135,000 85,000 220,000 150,000 100,000 105,000 455,000 340,000 220,000 370,000 205,000 S 795,000 Total cost of jobs At the end of April, indicate which account should include each job's costs. Requirement General Journal 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: A 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 Co the month of April. Dates: Mar 31 to: Apr 3 Gross profit (Cost of Goods Mfg Gross Profit