i dont understand this at all!!
Problem 15-1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4 The following information applies to the questions displayed below] Marcelino Co's March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $530,000, and factory payroll cost in April is $390,000 Overhead costs incurred in April are indirect materials, $54,000; indirect labor. $29.000, factory rent, $35.000, factory utilities, $25,000; and factory equipment depreciation, $54.000 The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $690,000 cash in April. Costs of the three jobs worked on in April follow. Job 386 Job 307 Job 308 $ 28,000 23,000 11,500 $ 40, eee 14,000 7,000 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 139, eee 103,eee 210, eee 154, eee $120,000 104,000 ? Finished (sold) Finished (unsold) In process Required information 4. Job 306 Job 307 Job 303 April Total 1013 $ $ From March Direct Materials Direct Labor Applied overhead Beginning goods in process For April Direct Materials 28,000 23,000 11,500 40,000 14,000 7,000 $ 68,000 37,000 18,500 15:30 139,000 103,000 210,000 154,000 120,000 104,000 469,000 361,000 Direct Labor Applied overhead Total costs added in April Total costs (April 30) Status on April 30 April 30 cost included in: Finished (sold) Finished (unsold) In process earch O 5 Problem 15-1A Part 2 2 of 3 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 f. 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 1. Revenue from the sale of Job 306 J. Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. (The amount is not material.) 3412 2. Prepare journal entries for the month of April to record the above transactions, View transaction list Journal entry worksheet Problem 15-1A Part 3 3. Prepare a schedule of cost of goods manufactured. MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs Total cost of work in process Cost of goods manufactured