Marco Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 $ 27,000 23,000 11,500 $ 42,000 18,000 9,000 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 30 215,000 150,000 139,000 104,000 ? Finished (sold) $ 110,000 103,000 ? Finished (unsold) In proceso Additional Information a. Raw Materials Inventory has a March 31 balance of $82,000. b. Raw materials purchases in April are $570,000, and total factory payroll cost in April is $379.000. c. Actual overhead costs incurred in April are Indirect materials, $51,000, indirect labor, $22,000; factory rent, $40,000; factory utilities, $21,000, and factory equipment depreciation, $61,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $630,000 cash in April. 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31). Job 306 Job 307 Job 308 April Total March Direct materials $ S 27,000 23,000 11,500 42,000 18,000 9,000 464,000 Direct labor Overhead applied Work in process, beginning April Direct materials Direct labor Overhead applied Costs added in April Total costs Status on April 30 April 30 cost included in 139,000 104,000 215,000 150,000 110,000 103.000 357,000 Finished (sold) Finished (unsold) In process 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 Journal entry worksheet