Required information Problem 15-1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4 The following information applies to the questions displayed below] Marcelino Co.'s March 31 Inventory of raw materials is $82,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $57,000 indirect labor, $28,000; factory rent, $38,000; factory utilities, $20,000, and factory equipment depreciation, $54,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 cash in April. Costs of the three jobs worked on in April follow Job 306 Job 307 Job 308 $ 27,000 24,000 12,000 $ 37,000 17,000 8,500 Balances on March 31 Direct materials Direct lobor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 134,000 102,000 210,000 152,000 $120,000 103,000 Finished (sold) Finished (unsold) In process Problem 15-1A Part 1 Required information Job 306 Job 307 Job 308 April Total $ $ 27,000 24,000 12,000 37,000 17,000 8,500 $ 64,000 41,000 20,500 $ 0 + From March Direct Materials Direct Labor Applied overhead Beginning goods in process For April Direct Materials Direct Labor Applied overhead Total costs added in April 120,000 134,000 210,000 152,000 464,000 357,000 103,000 102,000 0 223,000 821,000 362.000 236,000 $ 0 Total costs (April 30) Finished (sold) Finished (unsold) In process Status on April 30 April 30 cost included in 68F Cloudy a. Materials purchases (on credit). b. Direct materials used in production c. Direct labor paid and assigned to Work in Process Inventory. d. Indirect labor paid and assigned to Factory Overhead. e. Overhead costs applied to Work in Process Inventory. f. Actual overhead costs incurred, including indirect materials. (Factory rent and utilities are paid in cash.) g. Transfer of Jobs 306 and 307 to Finished Goods Inventory h. Cost of goods sold for Job 306. 1. Revenue from the sale of Job 306. J. Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. (The amount is not 2. Prepare journal entries for the month of April to record the above transactions View transaction list Journal entry worksheet 1 2 3 4 5 67 8 13 Dorartha arte for stariale purchsee in Prodi Problem 15-1A Part 3 3. Prepare a schedule of cost of goods manufactured. MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs 0 Total cost of work in process 0 Cost goods manufactured $ $ 0