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 ? Finished (sold) 220,000 150,000 ? Finished (unsold) $100,000 105,000 ? In process 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. 7 f2. Record the cost of factory utilities paid in cash. 8 f3. Record the depreciation on factory equipment. 9 f4. Record the cost of factory rent, paid in cash. 10 g. Record the transfer of Jobs 306 and 307 to Finished Goods Inventory. 11 h. Record the cost of goods sold for Job 306. 12 i. Record the revenue from the cash sale of Job 306. 13 j. Record the assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. 1 a. Record the purchase of materials (on credit). 2 b. Record direct materials used in production. 3 c. Record direct labor paid and assigned to Work in Process Inventory. 4 d. Record indirect labor paid and assigned to Factory Overhead. 5 e. Record overhead costs applied to Work in Process Inventory. 6 f1. Record the cost of indirect materials used. Dates: Mar 31 to: Apr 30 General Ledger Account Cash Accounts receivable, net No. Date Debit Credit No. Date Debit Credit Balance Balance 450,000 Mar 31 Mar 31 180,000 Raw materials inventory Work in process inventory No. Date Debit Credit No. Date Debit Credit Balance 80,000 Balance 121,000 Mar 31 Mar 31 Factory Equipment No. Debit Credit Balance No. Date Mar 31 Accumulated depreciation - Factory equipment Date Debit Credit Balance Mar 31 153,000 510,000 Accounts payable Common stock, $5 par value No. Date Debit Credit Balance No. Date Debit Credit Balance Mar 31 45,000 Mar 31 250,000 Paid-in capital in excess of par - Common Retained earnings No. Date Debit Credit No. Date Debit Credit Balance 150,000 Balance 743,000 Mar 31 Mar 31 Marcelino Company Trial Balance April 30, 2019 Account Title Debit Credit Cash $ 450,000 180,000 80,000 121,000 510,000 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 153,000 45,000 250,000 150,000 743,000 1,341,000 Total $ 1,341,000 $ 30 Job 306 Job 307 Job 308 April Total Beginning Work in Process (March costs) Direct materials Direct labor Applied overhead Total Beginning Work in Process inventory 29,000 $ 20,000 35,000 18,000 9,000 10,000 59,000 62,000 $ 121,000 Costs added in April Direct materials 135,000 $ 220,000 150,000 100,000 105,000 455,000 340,000 Direct labor 85,000 0 Applied overhead Total costs added in April 220,000 370,000 205,000 $ 795,000 Total cost of jobs At the end of April, indicate which account should include each job's costs. Trial Balance Coat of Goode Mf MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Direct materials used $ 455,000 Direct labor used 340,000 Factory overhead applied 170,000 Total manufacturing costs added during April $ 965,000 Total cost of work in process 0 0 Gross profit