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Prepare a schedule of cost of goods manufactured for the month end April 30. Required information [The following information applies to the questions displayed below.]
Prepare a schedule of cost of goods manufactured for the month end April 30.
Required information [The following information applies to the questions displayed below.] 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 $87,000. b. Raw materials purchases in April are $500,000, and total factory payroll cost in April is $386,000. c. Actual overhead costs incurred in April are indirect materials, $55,000; indirect labor, $26,000; factory rent, $38, 000 ; factory utilities, $23,000; and factory equipment depreciation, $61,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $635,000 cash in AprilStep by Step Solution
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