Question
Marcelino Co.'s March 31 inventory of raw materials is $85,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $385,000.
Marcelino Co.'s March 31 inventory of raw materials is $85,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $59,000; indirect labor, $28,000; factory rent, $33,000; factory utilities, $21,000; and factory equipment depreciation, $52,000. 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 | $ | 26,000 | $ | 40,000 | ||||||||
| Direct labor | 22,000 | 15,000 | ||||||||||
| Applied overhead | 11,000 | 7,500 | ||||||||||
| Costs during April | ||||||||||||
| Direct materials | 132,000 | 215,000 | $ | 110,000 | ||||||||
| Direct labor | 102,000 | 153,000 | 102,000 | |||||||||
| Applied overhead | ? | ? | ? | |||||||||
| Status on April 30 | Finished (sold) | Finished (unsold) | In process | |||||||||
3. Prepare a schedule of cost of goods manufactured.
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Security And Loss Prevention An Introduction
Authors: Philip Purpura CPP Florence Darlington Technical College
7th Edition
0128117958, 9780128117958
