Marco Company shows the following costs for three jobs worked on in April. Balances on March...

Transcribed Image Text:

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 Job 306 Job 307 Job 308 $ 25,000 21,000 10,500 $ 43,000 16,000 8,000 140,000 102,000 ? Finished (sold) 220,000 152,000 ? Finished (unsold) $115,000 103,000 ? In process a. Raw Materials Inventory has a March 31 balance of $80,000. b. Raw materials purchases in April are $520,000, and total factory payroll cost in April is $380,000 c. Actual overhead costs incurred in April are indirect materials, $51,000; indirect labor, $23,000; factory rent, $36,000; factory utilities, $22,000; and factory equipment depreciation, $58,000. d. Predetermined overhead rate is 50% of direct labor cost e. Job 306 is sold for $685,000 cash in April. 4. Prepare a schedule of cost of goods manufactured for the month end April 30. MARCO COMPANY Schedule of Cost of Goods Manufactured- For Month Ended April 30 Total manufacturing costs Total cost of work in process Cost of goods manufactured $ 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) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Additional Information Job 306 Job 307 Job 308 $ 25,000 21,000 10,500 $ 43,000 16,000 8,000 140,000 102,000 ? Finished (sold) 220,000 152,000 ? Finished (unsold) $115,000 103,000 ? In process a. Raw Materials Inventory has a March 31 balance of $80,000. b. Raw materials purchases in April are $520,000, and total factory payroll cost in April is $380,000 c. Actual overhead costs incurred in April are indirect materials, $51,000; indirect labor, $23,000; factory rent, $36,000; factory utilities, $22,000; and factory equipment depreciation, $58,000. d. Predetermined overhead rate is 50% of direct labor cost e. Job 306 is sold for $685,000 cash in April. 4. Prepare a schedule of cost of goods manufactured for the month end April 30. MARCO COMPANY Schedule of Cost of Goods Manufactured- For Month Ended April 30 Total manufacturing costs Total cost of work in process Cost of goods manufactured $ 0