Marcelino Co.'s March 31 inventory of raw materials is $82,000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $390,000. Overhead costs incurred in April are: indirect materials, $59,000; indirect labor, $29,000; factory rent, $34,000; factory utilities, $21,000; and factory equipment depreciation, $61,000. 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.

Job 306

Job 307

Job 308

Balances on March 31

Direct materials

$

28,000

$

39,000

Direct labor

24,000

18,000

Applied overhead

12,000

9,000

Costs during April

Direct materials

133,000

220,000

$

115,000

Direct labor

105,000

154,000

102,000

Applied overhead

?

?

?

Status on April 30

Finished (sold)

Finished (unsold)

In process

1. Prepare a schedule of cost of goods manufactured.

2. Compute gross profit for April.

3. Show how to present the inventories on the April 30 balance sheet.

MARCELINO COMPANY
Schedule of Cost of Goods Manufactured
For Month Ended April 30
Total manufacturing costs	0
Total cost of work in process	0
Cost of goods manufactured	$

Inventories
Raw materials
Work in process
Finished goods
Total inventories	$0