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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
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