Marco Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 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 $ 29,000 20,000 $ 35,000 18,000 10,000 135,000 9,000 220,000 $ 100,000 85,000 ? Finished (sold) 150,000 105,000 ? ? Finished (unsold) In process Additional Information 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. 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 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 Direct materials used $ 455,000 Direct labor 340,000 Factory overhead applied 170,000 Total manufacturing costs 965,000 Add: Work in process inventory, beginning 121,000 1,086,000 Total cost of work in process Less: Work in process inventory, ending Cost of goods manufactured $ 1,086,000