Marcelino Co.'s March 31 inventory of raw materials is $82,000. Raw materials purchases in April are $520,000 and factory payroll cost in April is $377,000. Overhead costs incurred in April are: indirect materials, $53,000; indirect labor, $23,000; factory rent, $40,000; factory utilities, $20.000; and factory equipment depreciation, $55,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $675,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 387 Job 388 $ 27,000 23,00 11,500 $ 43,000 14,000 7.ee Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 $110,000 100,000 132,000 102,000 ? Finished (sold) 215,000 152,000 > Finished (unsold) In process Required: 1. Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from March 31). Required information Job 308 Job 307 Job 306 April Total $ $ From March Direct Materials Direct Labor Applied overhead Beginning goods in process For April Direct Materials 27,000 23,000 11,500 61,500 43,000 14.000 7.000 $ 70,000 37.000 18,500 $ 125,500 $ $ 64,000 132.000 102,000 215,000 152,000 110,000 100,000 457.000 354,000 Direct Labor Applied overhead Total costs added in April 50,000 861,000 284,000 367,000 210,000 Total costs (April 30) S 0 Finished (sold) Finished (unsold) In process Slatus on April 30 April 30 cost included in 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. t. 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 materia 2. Prepare journal entries for the month of April to record the above transactions, View transaction list 4. Status on April 30 Finished (sold) Part 3 of 4 3. Prepare a schedule of cost of goods manufactur 20 points MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 eBook Print References Total manufacturing costs Total cost of work in process Cost of goods manufactured 15 HW A 5 ! Required information an 4 of 4 Complete this question by enteri Required 4A Required 4B ints Compute gross profit for April. eBook Gross profit Print References Required information 4 Complete this question by entering your Required 4A Required 4B Show how to present the inventories on the Ap Inventories Raw materials t Work in process ces Finished goods Total inventories