Question
Problem 2-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 Skip to question [The following
Problem 2-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 Skip to question [The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April.
Raw Materials Inventory has a March 31 balance of $84,800. Raw materials purchases in April are $512,000, and total factory payroll cost in April is $375,000. Actual overhead costs incurred in April are indirect materials, $53,000; indirect labor, $26,000; factory rent, $35,000; factory utilities, $22,000; and factory equipment depreciation, $54,000. Predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $647,000 cash in April.
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