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Marcelino Co's March 31 inventory of raw materials is $87.000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $384.000.
Marcelino Co's March 31 inventory of raw materials is $87.000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $384.000. Overhead costs incurred in Aprilare: indirect materials, $58,000: Indirect labor, $23,000: factory rent, $40.000; factory utilities. $23,000, and factory equipment depreciation, $56.000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is'sold for $685.000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $ 28,000 24,000 12,000 $45.000 18.000 9.00 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 1e3,000 210.ee 153.00 $115.009 105.09 Finished (sold) Finished (unsold) In process Problem 15-1A Part 1 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). Job 306 Job 307 Job 308 April Total S 45 000 $ 73000 28,000 24.000 12,000 18.000 42,000 21,000 From March Direct Materials Direct Labor Applied overhead Beginning goods in process For April Direct Materials Direct Labor Applied overhead 135,000 103.000 210,000 153,000 115,000 105,000 460,000 361,000 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). Job 306 Job 307 Job 308 April Total $ $ 28,000 24,000 12,000 45,000 18,000 9,000 73,000 42,000 21,000 From March Direct Materials Direct Labor Applied overhead Beginning goods in process For April Direct Materials Direct Labor Applied overhead Total costs added in April Total costs (April 30) Status on April 30 April 30 cost included in: 135,000 103,000 210,000 153,000 115,000 105,000 460,000 361,000 Finished (sold) Finished (unsold) In process
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