Please answer all four parts of the question, as all four parts are apart of ONE question.

11 Part 1 of 4 Required information Problem 19-1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4 [The following information applies to the questions displayed below.) 0.71 points Marcelino Co.'s March 31 inventory of raw materials is $85,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $387,000. Overhead costs incurred in April are: indirect materials, $60,000; indirect labor, $26,000; factory rent, $37,000; factory utilities, $23,000; and factory equipment depreciation, $53,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $640,000 cash in April. Costs of the three jobs worked on in April follow. eBook Job 306 Job 307 Job 308 Print $ 31,000 24,000 12,000 $ 40,000 16,000 8,000 ancora Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 220,000 155,000 $ 110,000 103,000 References 138,000 103,000 ? Finished (sold) Finished (unsold) In process Problem 19-1A Part 1 Required: 1. Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from March 31). Job 306 Job 307 Job 308 April Total From March Direct Materials 31,000 Direct Labor 24,000 40,000 16,000 8,000 $ 71,000 40,000 20,000 Applied overhead 12,000 Beginning goods in process For April Direct Materials 138,000 220,000 110,000 468,000 361,000 Direct Labor 103,000 155,000 103,000 Applied overhead Total costs added in April Total costs (April 30) Finished (sold) Finished (unsold) In process Status on April 30 April 30 cost included in: Part 2 of 4 (The following information applies to the questions displayed below.) 0.71 points Marcelino Co.'s March 31 inventory of raw materials is $85,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $387,000. Overhead costs incurred in April are: indirect materials, $60,000; indirect labor, $26,000; factory rent, $37,000; factory utilities, $23,000; and factory equipment depreciation, $53,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $640,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 eBook $ 31,000 24,000 12,000 $ 40,000 16,000 8,000 Print Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 138,000 103,000 ? Finished (sold) 220,000 155,000 ? Finished (unsold) $110,000 103,000 ? In process References Problem 19-1A Part 2 a. Materials purchases (on credit). b. Direct materials used in production. c. Direct labor paid and assigned to Work in Process Inventory. d. Indirect labor paid and assigned to Factory Overhead. e. Overhead costs applied to Work in Process Inventory. f. Actual overhead costs incurred, including indirect materials. (Factory rent and utilities are paid in cash.) g. Transfer of Jobs 306 and 307 to Finished Goods Inventory. h. Cost of goods sold for Job 306. i. Revenue from the sale of Job 306. j. Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. (The amount is not material.) 2. Prepare journal entries for the month of April to record the above transactions. 1 Record the entry for Materials purchases (on credit). 2 Record the direct materials used in production. 3 Record the Direct labor paid and assigned to Work in Process Inventory. 4 Record the indirect labor paid and assigned to Factory Overhead. Record the entry for Overhead costs applied to Work in Process Inventory. 6 Record the cost of indirect materials used. 7 Record the cost of factory utilities, paid in cash. 8 Record depreciation on factory equipment. 9 Record the cost of factory rent, paid in cash. 10 Record the entry for transfer of Jobs 306 and 307 to Finished Goods Inventory. 11 Record the Cost of goods sold for Job 306. 12 Record the revenue from the sale of Job 306. 13 Record the entry for assignment of any underapplied or overapplied overhead to the Cost of Goods Sold. Part 3 of 4 Marcelino Co.'s March 31 inventory of raw materials is $85,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $387,000. Overhead costs incurred in April are: indirect materials, $60,000; indirect labor, $26,000; factory rent, $37,000; factory utilities, $23,000; and factory equipment depreciation, $53,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $640,000 cash in April. Costs of the three jobs worked on in April follow. 0.71 points Job 306 Job 307 Job 308 $ 31,000 24,000 12,000 $ 40,000 16,000 8,000 eBook Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 $110,000 103,000 138,000 103,000 2 Finished (sold) Print 220,000 155,000 ? Finished (unsold) In process References Problem 19-1A Part 3 3. Prepare a schedule of cost of goods manufactured. MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs Total cost of work in process Cost of goods manufactured Part 4 of 4 Marcelino Co.'s March 31 inventory of raw materials is $85,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $387,000. Overhead costs incurred in April are: indirect materials, $60,000; indirect labor, $26,000; factory rent, $37,000; factory utilities, $23,000; and factory equipment depreciation, $53,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $640,000 cash in April. Costs of the three jobs worked on in April follow. 0.77 points Job 306 Job 307 Job 308 $ 31,000 24,000 12,000 $ 40,000 16,000 8,000 eBook Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 138,000 103,000 Print 220,000 155,000 2 Finished (unsold) $110,000 103,000 2 In process Finished (sold) References Problem 19-1A Part 4 4-a. Compute gross profit for April. 4-b. Show how to present the inventories on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Required 4A Required 4B Compute gross profit for April. Gross profit Required 4A Required 4B Show how to present the inventories on the April 30 balance sheet. Inventories Raw materials Work in process Finished goods Total inventories

Question

Please answer all four parts of the question, as all four parts are apart of ONE question.

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11 Part 1 of 4 Required information Problem 19-1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4 [The following information applies to the questions displayed below.) 0.71 points Marcelino Co.'s March 31 inventory of raw materials is $85,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $387,000. Overhead costs incurred in April are: indirect materials, $60,000; indirect labor, $26,000; factory rent, $37,000; factory utilities, $23,000; and factory equipment depreciation, $53,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $640,000 cash in April. Costs of the three jobs worked on in April follow. eBook Job 306 Job 307 Job 308 Print $ 31,000 24,000 12,000 $ 40,000 16,000 8,000 ancora Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 220,000 155,000 $ 110,000 103,000 References 138,000 103,000 ? Finished (sold) Finished (unsold) In process Problem 19-1A Part 1 Required: 1. Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from March 31). Job 306 Job 307 Job 308 April Total From March Direct Materials 31,000 Direct Labor 24,000 40,000 16,000 8,000 $ 71,000 40,000 20,000 Applied overhead 12,000 Beginning goods in process For April Direct Materials 138,000 220,000 110,000 468,000 361,000 Direct Labor 103,000 155,000 103,000 Applied overhead Total costs added in April Total costs (April 30) Finished (sold) Finished (unsold) In process Status on April 30 April 30 cost included in: Part 2 of 4 (The following information applies to the questions displayed below.) 0.71 points Marcelino Co.'s March 31 inventory of raw materials is $85,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $387,000. Overhead costs incurred in April are: indirect materials, $60,000; indirect labor, $26,000; factory rent, $37,000; factory utilities, $23,000; and factory equipment depreciation, $53,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $640,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 eBook $ 31,000 24,000 12,000 $ 40,000 16,000 8,000 Print Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 138,000 103,000 ? Finished (sold) 220,000 155,000 ? Finished (unsold) $110,000 103,000 ? In process References Problem 19-1A Part 2 a. Materials purchases (on credit). b. Direct materials used in production. c. Direct labor paid and assigned to Work in Process Inventory. d. Indirect labor paid and assigned to Factory Overhead. e. Overhead costs applied to Work in Process Inventory. f. Actual overhead costs incurred, including indirect materials. (Factory rent and utilities are paid in cash.) g. Transfer of Jobs 306 and 307 to Finished Goods Inventory. h. Cost of goods sold for Job 306. i. Revenue from the sale of Job 306. j. Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. (The amount is not material.) 2. Prepare journal entries for the month of April to record the above transactions. 1 Record the entry for Materials purchases (on credit). 2 Record the direct materials used in production. 3 Record the Direct labor paid and assigned to Work in Process Inventory. 4 Record the indirect labor paid and assigned to Factory Overhead. Record the entry for Overhead costs applied to Work in Process Inventory. 6 Record the cost of indirect materials used. 7 Record the cost of factory utilities, paid in cash. 8 Record depreciation on factory equipment. 9 Record the cost of factory rent, paid in cash. 10 Record the entry for transfer of Jobs 306 and 307 to Finished Goods Inventory. 11 Record the Cost of goods sold for Job 306. 12 Record the revenue from the sale of Job 306. 13 Record the entry for assignment of any underapplied or overapplied overhead to the Cost of Goods Sold. Part 3 of 4 Marcelino Co.'s March 31 inventory of raw materials is $85,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $387,000. Overhead costs incurred in April are: indirect materials, $60,000; indirect labor, $26,000; factory rent, $37,000; factory utilities, $23,000; and factory equipment depreciation, $53,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $640,000 cash in April. Costs of the three jobs worked on in April follow. 0.71 points Job 306 Job 307 Job 308 $ 31,000 24,000 12,000 $ 40,000 16,000 8,000 eBook Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 $110,000 103,000 138,000 103,000 2 Finished (sold) Print 220,000 155,000 ? Finished (unsold) In process References Problem 19-1A Part 3 3. Prepare a schedule of cost of goods manufactured. MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs Total cost of work in process Cost of goods manufactured Part 4 of 4 Marcelino Co.'s March 31 inventory of raw materials is $85,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $387,000. Overhead costs incurred in April are: indirect materials, $60,000; indirect labor, $26,000; factory rent, $37,000; factory utilities, $23,000; and factory equipment depreciation, $53,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $640,000 cash in April. Costs of the three jobs worked on in April follow. 0.77 points Job 306 Job 307 Job 308 $ 31,000 24,000 12,000 $ 40,000 16,000 8,000 eBook Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 138,000 103,000 Print 220,000 155,000 2 Finished (unsold) $110,000 103,000 2 In process Finished (sold) References Problem 19-1A Part 4 4-a. Compute gross profit for April. 4-b. Show how to present the inventories on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Required 4A Required 4B Compute gross profit for April. Gross profit Required 4A Required 4B Show how to present the inventories on the April 30 balance sheet. Inventories Raw materials Work in process Finished goods Total inventories