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
Balances on March 31
Direct materials		$	29,000			$	35,000
Direct labor			20,000				18,000
Applied overhead			10,000				9,000
Costs during April
Direct materials			135,000				220,000			$	100,000
Direct labor			85,000				150,000				105,000
Applied overhead			?				?				?
Status on April 30	Finished (sold)				Finished (unsold)					In process

Prepare journal entries for the month of April's transactions.

Journal entry worksheet

.....

• a. Record the purchase of materials (on credit).

Note: Enter debits before credits.

Date	Account Title	Debit	Credit
Apr 30

Calculate the amount of overhead to be applied to each of the jobs worked on during April. Then, using the drop-downs, indicate which account in the ledger should include the job's costs as of April 30.

UnadjustedAdjustedPost-closing

Dates:

Mar 31

to:

Apr 30

	Job 306	Job 307	Job 308	April Total
Beginning Work in Process (March costs)
Direct materials	$29,000	$35,000
Direct labor	20,000	18,000
Applied overhead	10,000	9,000
Total Beginning Work in Process inventory	59,000	62,000		$121,000
Costs added in April
Direct materials	$135,000	$220,000	100,000	455,000
Direct labor	85,000	150,000	105,000	340,000
Applied overhead
Total costs added in April
Total cost of jobs
At the end of April, indicate which account should include each job's costs.

Prepare a schedule of cost of goods manufactured for Marcelino Company for the month of April.

UnadjustedAdjustedPost-closing

Dates:

Mar 31

to:

Apr 30

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

Select the accounts used in the calculation of gross profit. Enter the amount of gross profit for Marcelino Company for the month of April.

UnadjustedAdjustedPost-closing

Dates:

Mar 31

to:

Apr 30

Gross profit