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need help with these two parts. 5 oces Job 306 Job 307 Job 308 Balances on March 31 $ 26,000 $ 44,000 Direct materials used
need help with these two parts.
5 oces Job 306 Job 307 Job 308 Balances on March 31 $ 26,000 $ 44,000 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April 23,000 11,500 16,000 8,000 136,000 210,000 Direct materials used Direct labor used Overhead applied 101,000 ? 153,000 $ 105,000 102,000 ? ? Finished Status on April 30. Finished In process (sold) (unsold) Additional Information a. Raw Materials Inventory has a March 31 balance of $83,000. b. Raw materials purchases in April are $540,000, and total factory payroll cost in April is $384,000, c. Actual overhead costs incurred in April are indirect materials, $56,000, indirect labor, $28,000; factory rent, $32,000, factory utilities, $23,000, and factory equipment depreciation, $55,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $645,000 cash in April, 5-a. Compute gross profit for April 5-b. Show how the three inventory accounts are reported on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Reg SA Req 58 Compute gross profit for April. Gross profit Den 50 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 $ 105,000 102,000 ? Finished Finished Status on April 30 In process (sold) (unsold) Additional Information a. Raw Materials Inventory has a March 31 balance of $83,000. b. Raw materials purchases in April are $540,000, and total factory payroll cost in April is $384,000. c. Actual overhead costs incurred in April are indirect materials, $56,000; indirect labor, $28,000; factory rent, $32,000, factory utilities, $23,000, and factory equipment depreciation, $55,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $645,000 cash in April. 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Reg SA Req 58 Show how the three inventory accounts are reported on the April 30 bjance sheet. Inventories Raw materials Work in process Finished goods Total inventories $ 26,000 23,000 11,500 136,000 101,000 ? $ 44,000 16,000 8,000 210,000 153,000 2 Step by Step Solution
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