Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Problem 15-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 [The following information applies to
Problem 15-2A (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. Additional Information a. Raw Materials Inventory has a March 31 balance of $80,000 b. Raw materials purchases in April are $570,000, and total factory payroll cost in April is $384,000. c. Actual overhead costs incurred in April are indirect materials, $50,000; indirect labor, $26,000; foptory rent, $39,000; factory utilities, $22,000; and factory equipment depreciation, $61,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $670,000 cash in April. 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started