Marco Company
Marco Company shows the following costs for three jobs worked on in April Job 306 Job 307 Job 308 $ 29,000 20,000 10,000 $ 35,000 18,000 9,800 Balances on March 31 Direct materials (in March) Direct Labor (in March) Applied overhead (arch) Costs during April Direct materials Direct labor Applied overhead Status on April 30 220,000 150,000 $ 100.000 105,000 135,000 85,000 2 Finished (sold) Finished (unsold) In process Additional Information o Raw Materials inventory has a March 31 balance of $80,000 b. Raw materials purchases in April are $500,000, and total factory payroll cost in April is $363,000. c. Actual overhead costs incurred in April are indirect materials, $50,000, indirect labor, $23,000, factory rent, $32,000, factory utilities. S19,000, and factory equipment depreciation, $51,000, d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for 5635,000 cash in April Complete this question by entering your answers in the tabs below. Cost of Goods Mfo Gross Profit General Requirement General Journal Ledger Tral Balance Job Costs Prepare Journal entries for the month of April's transactions. Journal entry worksheet c. Record direct labor used (and paid in cash) and assigned to Work in Process Inventory. Note: Enter debits before credits. Date Account Title Debit Credit April 30 Record entry Clear entry View general journal Journal entry worksheet 2 3 5 6 7 CO 8 11 .... d. Record the indirect materials used and assigned to Factory Overhead. Note: Enter debits before credits. Date Account Title Debit Credit April 30 Record entry Clear entry View general journal Journal entry worksheet 2 3 4 5 6 7 8 8 11 e. Record the indirect labor used (and paid in cash) and assigned to Factory Overhead. Note: Enter debits before credits. Date Account Title Debit Credit April 30 Record entry Clear entry View general journal Journal entry worksheet ..... f. Record the overhead costs applied to Work in Process Inventory. Note: Enter debits before credits. Date Account Title Debit Credit April 30 Record entry Clear entry View general Journal Journal entry worksheet j. Record the revenue from the sale of Job 306 received in cash. Note: Enter debits before credits. Account Title Debit Credit Date April 30 Record entry Clear entry View general journal Journal entry worksheet e. Job 306 is sold for $635,000 cash in April. Complete this question by entering your answers in the tabs below. Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Prepare a schedule of cost of goods manufactured for Marcelino Company for the month of April. 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 Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Select the accounts used in the calculation of gross profit. Enter the amount of gross profit for Marcelino Con the month of April. 0 Sales Cost of goods sold Gross profit 0 (Cost of Goods Mfg . GO
