Help Save O2 Ch 15 Homework Problem 15-1A Production costs computed and recorded; reports prepared LO C2, P1, P2, P3, P4 [The following information applies to the questions displayed below) Marcelino Co.'s March 31 Inventory of raw materials is $89,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $382.000. Overhead costs incurred in April are Indirect materials, $58,000, Indirect labor, $25,000, factory rent, $35,000, factory utilities, $24,000, and factory equipment depreciation, $57,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $640,000 cash in April. Costs of the three jobs worked on in April follow. Job 30 Job 2017 $ 27,000 24,000 12.000 37.000 13,000 Aplied Terhead Cose du DE materials $110.000 132.000 103,000 205.000 152,000 Applied are head on April 30 Finished sold) Penished sold) Problem 15-1A Part 2 a. Materials purchases (on credit). b. Direct materials used in production c. Direct labor paid and assigned to Work in Process Inventory d. Indirect labor paid and assigned to Factory Overhead e. Overhead costs applied to Work in Process inventory. 1. Actual overhead costs incurred, including indirect materials Factory rent and utilities are paid in cash) g. Transfer of Jobs 306 and 307 to Finished Goods Inventory h. Cost of goods sold for Job 306 L. Ronse from the c ofinh 306 Help Save O2 Ch 15 Homework Problem 15-1A Production costs computed and recorded; reports prepared LO C2, P1, P2, P3, P4 [The following information applies to the questions displayed below) Marcelino Co.'s March 31 Inventory of raw materials is $89,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $382.000. Overhead costs incurred in April are Indirect materials, $58,000, Indirect labor, $25,000, factory rent, $35,000, factory utilities, $24,000, and factory equipment depreciation, $57,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $640,000 cash in April. Costs of the three jobs worked on in April follow. Job 30 Job 2017 $ 27,000 24,000 12.000 37.000 13,000 Aplied Terhead Cose du DE materials $110.000 132.000 103,000 205.000 152,000 Applied are head on April 30 Finished sold) Penished sold) Problem 15-1A Part 2 a. Materials purchases (on credit). b. Direct materials used in production c. Direct labor paid and assigned to Work in Process Inventory d. Indirect labor paid and assigned to Factory Overhead e. Overhead costs applied to Work in Process inventory. 1. Actual overhead costs incurred, including indirect materials Factory rent and utilities are paid in cash) g. Transfer of Jobs 306 and 307 to Finished Goods Inventory h. Cost of goods sold for Job 306 L. Ronse from the c ofinh 306
