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)	$ 30,000	$ 44,000
Direct labor used (in March)	24,000	17,000
Overhead applied (March)	12,000	8,500
Costs during April
Direct materials used	136,000	220,000	$ 115,000
Direct labor used	103,000	154,000	105,000
Overhead applied	?	?	?
Status on April 30	Finished (sold)	Finished (unsold)	In process

Additional Information

1. Raw Materials Inventory has a March 31 balance of $82,000.
2. Raw materials purchases in April are $550,000, and total factory payroll cost in April is $382,000.
3. Actual overhead costs incurred in April are indirect materials, $57,000; indirect labor, $20,000; factory rent, $31,000; factory utilities, $22,000; and factory equipment depreciation, $53,000.
4. Predetermined overhead rate is 50% of direct labor cost.
5. Job 306 is sold for $655,000 cash in April.

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. i. 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.

Required information No Transaction a. b. C. e. f. g. h. i. 1 2 3 5 6 7 8 9 10 11 j. k. > Answer is not complete. General Journal Raw materials inventory Accounts payable Work in process inventory Raw materials inventory Work in process inventory Cash Factory overhead Cash Work in process inventory Factory overhead Raw materials inventory Cash Accumulated depreciation-Factory equipment Finished goods inventory Work in process inventory Cost of goods sold Finished goods inventory Cash Sales Cost of goods sold Factory overhead Factory overhead 30 X X 33 Debit 550,000 471,000 362,000 20,000 181,000 163,000 X 877,000 356,500 655,000 2,000 > Credit 550,000 471,000 362,000 20,000 181,000 57,000 X 53,000 53,000 X 877,000 356,500 655,000 2,000