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Marcelino Co.'s March 31 inventory of raw materials is $80,000. Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31
Marcelino Co.'s March 31 inventory of raw materials is $80,000.
Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $80,000. Raw materials purchases in April are $510,000, and factory payroll cost in April is $380,000. Overhead costs incurred in April are: indirect materials, $60,000; indirect labor, $27,000; factory rent, $35,000; factory utilities, $20,000; and factory equipment depreciation, $59,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $670,000 cash in April. Costs of the three jobs worked on in April follow. 3. Prepare a schedule of cost of goods manufactured Step by Step Solution
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