Problem 2-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO...

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Problem 2-2A (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. Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Additional Information Job 306 Job 307 Job 308 $ 25,000 21,000 10,500 $ 36,000 19,000 9,500 132,000 104,000 2 Finished (sold) 205,000 $ 105,000 152,000 104,000 2 Finished (unsold) In process a. Raw Materials Inventory has a March 31 balance of $86,000. b. Raw materials purchases in April are $530,000, and total factory payroll cost in April is $387,000. c. Actual overhead costs incurred in April are indirect materials, $51,000; indirect labor, $27,000; factory rent, $30,000; factory utilities, $21,000; and factory equipment depreciation, $51,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $680,000 cash in April. Problem 2-2A (Algo) Part 5 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Req 5A Req 58 Show how the three inventory accounts are reported on the April 30 balance sheet. Raw materials Work in process Finished goods Total inventories Inventories Problem 2-2A (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. Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Additional Information Job 306 Job 307 Job 308 $ 25,000 21,000 10,500 $ 36,000 19,000 9,500 132,000 104,000 2 Finished (sold) 205,000 $ 105,000 152,000 104,000 2 Finished (unsold) In process a. Raw Materials Inventory has a March 31 balance of $86,000. b. Raw materials purchases in April are $530,000, and total factory payroll cost in April is $387,000. c. Actual overhead costs incurred in April are indirect materials, $51,000; indirect labor, $27,000; factory rent, $30,000; factory utilities, $21,000; and factory equipment depreciation, $51,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $680,000 cash in April. Problem 2-2A (Algo) Part 5 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Req 5A Req 58 Show how the three inventory accounts are reported on the April 30 balance sheet. Raw materials Work in process Finished goods Total inventories Inventories