Please answer the following questions in the same format

(part of part 3)

Record the entry for material purchased on credit.

Record the direct materials used in production.

Record the direct labor (paid in cash).

Record the indirect materials used.

Record the indirect labor (paid in cash).

Record the application of overhead costs.

Record the actual other overhead costs incurred (Factory rent and utilities are paid in cash.)

Record the transfer of Jobs 306 and 307 to Finished Goods Inventory

Record the cost of goods sold for Job 306.

Record the revenue from the sale of Job 306 received in cash.

Record the entry to close underapplied or overapplied overhead to the Cost of Goods Sold account.

Required Information Problem 2-2A (Algo) Computing and recording Job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 [The following information applies to the questions displayed below.) Marco Company shows the following costs for three jobs worked on in April. Job 385 Job 387 Job 388 $ 28, eee 25, eee 12,500 $ 39, eee 14,000 7,000 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 30 139, eee 183, eee ? Finished (sold) 215,000 150,000 ? Finished (unsold) $ 120,000 105,000 ? In process Additional Information a. Raw Materials Inventory has a March 31 balance of $86,000. b. Raw materials purchases in April are $540,000, and total factory payroll cost In April is $386,000. c. Actual overhead costs incurred in April are Indirect materials, $53,000; Indirect labor, $28,000; factory rent, $37,000: factory utilitles, $20,000; and factory equipment depreciation, $57,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $665,000 cash In April. Problem 2-2A (Algo) Part 3 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. 1. 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. View transaction list manufactured LO P1, P2, P3, P4 [The following information applies to the questions displayed below.) Marco Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 $ 28,000 25,000 12,500 $ 39,000 14,000 7,000 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 30 139,000 103,000 215,000 150,000 $ 120,000 105,000 ? Finished (sold) Finished (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $86,000. b. Raw materials purchases in April are $540,000, and total factory payroll cost in April is $386,000. c. Actual overhead costs incurred in April are Indirect materials, $53,000; Indirect labor, $28,000; factory rent, $37,000; factory utilities, $20,000; and factory equipment depreciation, $57,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $665,000 cash in April. Problem 2-2A (Algo) Part 4 4. Prepare a schedule of cost of goods manufactured for the month end April 30. MARCO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs 0 Total cost of work in process 0 Cost of goods manufactured $ 0 5-a. Compute gross profit for April. 5-6. 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. Req 5A Req 5B Show how the three inventory accounts are reported on the April 30 balance sheet. Inventories Raw materials Work in process Finished goods Total inventories

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