Required information

Problem $19-2$A $($Algo$)$ Computing and recording job costs; preparing schedule of cost of goods manufactured LO P$1,$ P$2,$ P$3,$ P$4$

$[$The following information applies to the questions displayed below.$]$

Marco Company shows the following costs for three jobs worked on in April.

$\backslash$table$[[$Balances on March $31,$Job $306,$Job $307,$Job $308,],[$Direct materials used $($in$,,,,],[$March$),$$$0,200,36,200,,],[$Direct labor used $($in$,21,200,19,200,,],[$March$),11,200,10,200,,],[$Overhead applied $($March$),,,,],[$Costs during April,$138,000,223,000,103,000,],[$Direct materials used,$86,200,153,000,108,000,],[$Direct labor used,?,?,,$],[$Overhead applied,Finished Finished In$,,,],[$Status on April $30,($sold$)($unsold$)$ process$]]$

Additional Information

a$.$ Raw Materials Inventory has a March $31$ balance of $$81,200.$

b$.$ Raw materials purchases in April are $$503,000,$ and total factory payroll cost in April is $$366,000.$

c$.$ Actual overhead costs incurred in April are indirect materials, $$50,750$; indirect labor, $$23,750$; factory rent, $$32,750$; factory utilities, $$19,750$; and factory equipment depreciation, $$51,750.$

d$.$ Predetermined overhead rate is $50\%$ of direct labor cost.

e$.$ Job $306$ is sold for $$638,000$ cash in April.

roblem $19-2$A $($Algo$)$ Part $3$

a$.$ Materials purchases $($on credit$).$

b$.$ Direct materials used.

c$.$ Direct labor used $($and paid in cash$)$ and assigned to Work in Process Inventory.

d$.$ Indirect materials used and assigned to Factory Overhead.

e$.$ Indirect labor used $($and paid in cash$)$ and assigned to Factory Overhead.

f$.$ Overhead costs applied to Work in Process Inventory.

g$.$ Actual other overhead costs incurred $($Factory rent and utilities are paid in cash.$)$

h$.$ Transfer of Jobs $306$ and $307$ to Finished Goods Inventory.

i$.$ Cost of goods sold for Job $306.$

j$.$ Revenue from the sale of Job $306$ received in cash.

k$.$ Close underapplied or overapplied overhead to the Cost of Goods Sold account.

Prepare journal entries for the month of April to record the above transactions.

$\backslash$table$[[2,$b$.,$Work in process inventory,,$],[,,$Raw materials inventory,,$],[3,$c$.,$Work in process inventory,,$],[,,$Cash,,$],[,,,,],[4,$d$.,$Factory overhead,,$],[,,$Raw materials inventory,,$],[5,$e$.,$Factory overhead,,$],[,,$Cash,,$],[6,$f$.,$Work in process inventory,,$],[,,$Factory overhead,,$],[7,$g$.,$Factory overhead,,$],[,$Cash,,,$],[,,$Accumulated depreciation$-$Factory equipment,,$]]$