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The following is production information for Camino Tractors Co. February 28 inventory of raw materials is $88,000. Raw materials purchases in March are $510,000 Factory payroll cost in March is $378,000 Overhead costs incurred in March are: o Indirect materials, $55,000 o Indirect labor, $22,000 o Factory rent, $36,000 o Factory utilities, $19,000 o Factory equipment depreciation, $55,000 The predetermined overhead rate is 55% of direct labor cost. Job 200-006 is sold for $700,000 cash in March a Below is a schedule of costs for the three jobs worked on in March. Job 202-002 was started in March. Job 200-006 Job 201-005 Job 202-002 Totals Balances on February 28: Direct materials $ 30,000 $ 40,000 $ 70,000 Direct labor 22,000 14,000 36,000 Applied overhead 12,100 7,700 19,800 Costs during March: Direct materials 138,000 205,000 $115,000 Direct labor 101,000 152,000 103,000 |Applied overhead Subtotals for March Totals (February and March) Status on March 31 Finished and sold Finished but unsold Unfinished