prepare a schedule of cost goods manufactured.

Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $520,000, and factory payroll cost in April is $380,000. Overhead costs incurred in April are: indirect materials, $60,000; indirect labor, $23,000; factory rent, $36,000; factory utilities, $22,000; and factory equipment depreciation, $61,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $660,000 cash in April. Costs of the three jobs worked on in April follow. Job 386 Job 307 Balances on March 31 Job 308 Direct materials $ 28,000 $ 41,000 Direct labor 22,000 16,000 Applied overhead 11,000 8,000 Costs during April Direct materials 138,000 205,000 $100,000 Direct labor 102,000 151,000 104,000 Applied overhead ? Finished Finished In Status on April 30 (sold) (unsold) process MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Direct materials used $ 520,000 X Direct labor used 380,000 X Factory overhead applied 178,500 Total manufacturing costs 1,078,500 Add: Work in process March 31 126,000 Total cost of work in process 1,204,500 Less: Work in process April 30 256,000 Cost of goods manufactured $ 948,500