Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Marco Company shows the following costs for three jobs worked on In April. Balances on March 31 Direct materials (in March) Direct labor (in March)

image text in transcribedimage text in transcribed Marco Company shows the following costs for three jobs worked on In April. Balances on March 31 Direct materials (in March) Direct labor (in March) Applied overhead (March) Costs during April Direct materials Direct labor Applied overhead Status on April 30 Additional Information Job 366 Job 387 Job 388 $ 29,000 $ 35,000 28,088 10,000 18,000 9,008 135,000 220,000 $ 100,000. 85,000 150,000 105,000 7 Finished Finished (sold) (unsold) In process a. 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, $19,000; and factory equipment depreciation, $51,000. d. Predetermined overhead rate is 50% of direct labor cost. 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 Marco Company shows the following costs for three jobs worked on In April. Balances on March 31 Direct materials (in March) Direct labor (in March) Applied overhead (March) Costs during April Direct materials Direct labor Applied overhead Status on April 30 Additional Information Job 306 Job 307 Job 308 $ $ 29,000 35,000 20,000 18,000 10,000 9,000 135,000 220,000 100,000 85,000 150,000 105,000 7 Finished Finished In (sold) (unsold) process a. 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, $19,000; and factory equipment depreciation, $51,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $635,000 cash in April. Complete this question by entering your answers in the tabs below. Require... General General Journal Ledger Trial Balance Cost of Gross Job Costs Goods 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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy

11th Canadian edition Volume 2

1119048540, 978-1119048541

More Books

Students also viewed these Accounting questions

Question

Describe Haless and Whytts contributions to reflex theory.

Answered: 1 week ago

Question

What are the steps in the Sport Marketing Framework?

Answered: 1 week ago

Question

What do you think is the ultimate goal of sport marketing?

Answered: 1 week ago