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 $87,000. Raw materials purchases in April are $510,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $59,000; indirect labor, $29,000; factory rent, $32,000; factory utilities, $21,000; and factory equipment depreciation, $60,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $660,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $ $ 26,000 24,000 12,000 43,000 18,000 9,000 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 132,000 104,000 ? Finished (sold) 215,000 152,000 ? Finished (unsold) $100,000 100,000 ? In process Problem 15-1A Part 1 Required: 1. Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from March 31). Job 306 Job 307 Job 308 April Total From March Direct Materials $ 26,000 $ 43,000 $ 24,000 18,000 69,000 42,000 21,000 12,000 9,000 Direct Labor Applied overhead Beginning goods in process For April Direct Materials 132,000 215,000 100,000 447,000 Direct Labor 104,000 152,000 100,000 356,000 Applied overhead Total costs added in April Total costs (April 30) Finished (sold) Finished (unsold) In process Status on April 30 April 30 cost included in: 2. Prepare journal entries for the month of April to record the above transactions. View transaction list Journal entry worksheet