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Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials (in March) Direct labor (in March) Applied overhead (March) Costs during April Direct materials Direct labor Applied overhead Status on April 30 Additional Information Requirement General Journal View transaction list d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $635,000 cash in April. General Ledger Prepare journal entries for the month of April's transactions. Journal entry worksheet 1 a. Raw Materials Inventory has a March 31 balance of $80,000. b. Raw materials purchases in April are $500,000, and total factory payroll cost in April is $363,000. c. Actual overhead costs incurred in April are indirect materials, $50,000; indirect labor, $23,000; factory rent, $32,000; factory utilities, $19,000; and factory equipment depreciation, $51,000. Complete this question by entering your answers in the tabs below. Date April 30 Job 306 $ 29,000 20,000 10,000 2 135,000 85,000 Note: Enter debits before credits. Record entry Finished (sold) a. Record the purchase of materials (on credit). Account Title Job 307 $ 35,000 18,000 9,000 Clear entry 220,000 150,000 ? Finished (unsold) Trial Balance Job Costs 3 4 5 6 7 8 ... 11 >
Complete this question by entering your answers in the tabs below. 7 g. Record the actual other overhead costs incurred. (Factory rent and utilities are paid in cash.) 8 h. Record the transfer of Jobs 306 and 307 to Finished Goods Inventory. 9 I. Record the cost of goods sold for Job 306. 10j. Record the revenue from the sale of Job 306 received in cash. 11k. Record the close underapplied or overapplied overhead to the Cost of Goods Sold account. Marco Company shows the following costs for three jobs worked on in April. Additional Information a. Raw Materials Inventory has a March 31 balance of $80,000. b. Raw materials purchases in April are $500,000, and total factory payroli cost in April is $363,000. c. Actual overhead costs incurred in April are indirect materials, $50,000, indirect labor, $23,000; factory rent, $32,000; factory utilities, $19,000; and factory equipment depreciation, $51,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $635,000 cash in April, Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods manufactured for Marcelino Company for the month of April. Marco Company shows the following costs for three jobs worked on in April. Additional Information a. Raw Materials Inventory has a March 31 balance of $80,000. b. Raw materials purchases in April are $500,000, and total factory payroll cost in April is $363,000. c. Actual overhead costs incurred in April are indirect materials, $50,000; indirect labor, $23,000; factory rent, $32,000; factor utilities, $19,000; and factory equipment depreciation, $51,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $635,000 cash in April. Complete this question by entering your answers in the tabs below. General Ledger Account Marco Company shows the following costs for three jobs worked on in April. Additional Information a. Raw Materials Inventory has a March 31 balance of $80,000. b. Raw materials purchases in April are $500,000, and total factory payroll cost in April is $363,000. c. Actual ovethead costs incurred in April are indirect materials, $50,000; indirect labor, $23,000; factory rent, $32,000; factory utilities, \$19,000; and factory equipment depreciation, $51,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $635,000 cash in April. Complete this question by entering your answers in the tabs below. Calculate the amount of overhead to be applied to each of the jobs worked on during April. Then, using the drop-downs, Indicate which account in the ledger should include the job's costs as of April 30. Marco Company shows the following costs for three jobs worked on in April. Additional Information a. Raw Materials inventory has a March 31 balance of $80,000. b. Raw materials purchases in April are $500,000, and total foctory payroll cost in April is $363,000. c. Actual overhead costs incurred in April are indirect materials, $50,000; indirect laboc, $23,000; factory rent $32,000; factory utilities, $19,000, and factory equipment depreciation, $51,000 d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $635,000 cash in Aprit. Complete this question by entering your answers in the tabs below. Prepare journal entries for the month of April's transactions. Journal entry worksheet Note: Enker debte before credita 1 a. Record the purchase of materials (on credit). 2 b. Record the direct materials used. 3 c. Record direct labor used (and paid in cash) and assigned to Work in Process Inventory. 4 d. Record the indirect materials used and assigned to Factory Overhead. 5 e. Record the indirect labor used (and paid in cash) and assigned to Factory Overhead. 6 f. Record the overhead costs applied to Work in Process Inventory. Note : = journal entry has been entered
