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 used (in March) Direct labor


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 Job 306 Job 307 Job 308 $ 30,200 $ 36,200 21,200 11,200 19,200 10,200 138,000 223,000 86,200 ? 153,000 ? $ 103,000 108,000 ? Finished Finished (sold) (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $81,200. b. Raw materials purchases in April are $503,000, and total factory payroll cost in April is $366,000. c. Actual overhead costs incurred in April are indirect materials, $50,750; indirect labor, $23,750; factory rent, $32,750; factory utilities, $19.750; and factory equipment depreciation, $51,750. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $638,000 cash in April. 4. Prepare a schedule of cost of goods manufactured for the month ended April 30. MARCO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs Total cost of work in process 0 0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To prepare the schedule of cost of goods manufactured for the month ended April 30 we need to calcul... 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

Step: 3

blur-text-image

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

Fundamental Accounting Principles

Authors: John J Wild, Ken Shaw

25th Edition

1260247988, 978-1260247985

More Books

Students also viewed these Accounting questions

Question

How did World War II shape Anna Freuds research and thought?

Answered: 1 week ago