Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials used (in March). Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Additional Information $31,000 21,000 10,500 Job 386 Job 307 Job 308 $ 35,000 17,000 8,500 131,000 103,000 ? Finished (sold) 215,000 $ 105,000 153,000 101,000 2 Finished (unsold) In process a. Raw Materials Inventory has a March 31 balance of $81,000. b. Raw materials purchases in April are-$560,000, and total factory payroll cost in April is $384,000. c. Actual overhead costs incurred in April are indirect materials, $54,000; indirect labor, $27,000, factory rent, $34,000, factory utilities, $24,000, and factory equipment depreciation, $58,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $690,000 cash in April. a. Materials purchases (on credit). b. Direct materials used. c. Direct labor used (and paid in cash) and assigned to Work in Process Inventory. d. Indirect materials used and assigned to Factory Overhead. e. Indirect labor used (and paid in cash) and assigned to Factory Overhead. f. Overhead costs applied to Work in Process Inventory. g. Actual other overhead costs incurred (Factory rent and utilities are paid in cash.) h. Transfer of Jobs 306 and 307 to Finished Goods Inventory. 1. Cost of goods sold for Job 306. J. Revenue from the sale of Job 306 received in cash. k. Close underapplied or overapplied overhead to the Cost of Goods Sold account. 3. Prepare journal entries for the month of April to record the above transactions. View transaction list View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 11 Record the entry for material purchased on credit. Note: Enter debits before credits Transaction General Journal Debit Credit View general journal Record entry Clear entry es to the questions displayed below] Astro Company sold 29,000 units of its only product and reported income of $37.800 for the current year. During a planning session for next year's activities, the production manager notes that variable costs can be reduced 50% by installing a machine that automates several operations. To obtain these savings, the company must increase its annual fixed costs by $141.000. Total units sold and the selling price per unit will not change. ASTRO COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales ($50 per unit) Variable costs (548 per unit) Contribution margin Fixed costs Income $1,450,000 1,392,000 58,000 20,200 $ 37,800 1. Compute the break-even point in dollar sales for next year assuming the machine is installed. (Round your answers to 2 decimal places.) Contribution Margin per unit Sales Proposed Variable costs $ Contribution Margin Ratio 50.00 Per unit Per unit 500 Per unit Numerator: Contribution margin per unit Denominator: Contribution Margin Ratio Selling price per unit Contribution margin ratio Break-even point in dollar sales with new machine: Numerator: Total fixed costs Denominator: Contribution margin ratio Break-Even Point in Dollars Break-even point in dollars 0 Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Job 306 Job 307 Job 308 $31,000 21,000 $ 35,000 17,000 8,500 Costs during April Direct materials used. Direct labor used Overhead applied Status on April 30 Additional Information 10,500 131,000 103,000 Finished (sold) ? Finished (unsold) 215,000 $ 105,000 153,000 101,000 ? In process a. Raw Materials Inventory has a March 31 balance of $81,000. b. Raw materials purchases in April are $560,000, and total factory payroll cost in April is $384,000. c. Actual overhead costs incurred in April are indirect materials, $54,000, indirect labor, $27,000, factory rent. $34,000, factory utilities, $24,000; and factory equipment depreciation, $58,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $690,000 cash in April. d 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Req 5A Req 58 Compute gross profit for April. Gross profit Req SA Reg 5B Show how the three inventory accounts are reported on the April 30 balance sheet. Raw materials Work in process Finished goods Inventories Total inventories $