Required information 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. Additional Information a. Raw Matenals Inventory has a March 31 balance of $80.000 b. Raw materials purchases in April are $590.000, and total factory payroll cost In April is $385.000. c. Actual overhead costs incurred in April are indirect materials, $53,000; Indirect labor, $24,000; factory rent, $35,000 : factory vilities, \$21,000; and factory equipment depreclation, \$56,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $645.000 cash in April. Problem 2.2A (Algo) Part 2 2. Determine the total cost assigned to each job as of April 30 (Including the balances from March 31). Required informstion Problem 2.2A (Algo) Computing and recording job costs, preparing schedule of cost of goods manufactured Lo P1, P2, Ps, PA Additionel linformotion b. Paw Materiol Inventany hiss a March 31 balance of 980.000. b. Rov materia: purchase: In April 8i=$690,000, and tote facto goy fol coeth Apri is $385,000 isctory utlities, $21,000 and isctory equlpmeat deprecieton, $56,000 i. Predetemined overingad iste is 50% of direct lober cbat. e. 100306 a 80 d dor $545.000 cash in Apri. Problem 2-2A (Algo) Part 3 3. Materia s purchaces lon crecit) b. Direct misterigla useo c. Direct ibbo used land pald an gashl and ossignee to Wark In Process inventory d inalrect materisis used ond bssigned to Foctory Overhese: e. Indirect leborivsed (and peld in cash) she assigned to foctory Overhead. f. Overheac costs applied to work in Protess inventory. 9. Aetus othe overheoc costs incurfed (Fectary rent snd utilites are paid in cosh.l h. Trankerid Jobs 306 end 307 to Fhiched Gpods lnventary. L. Cort oigooos sald for job 305. 1. Revenue from the sole of j0b306 recelved in cesh. k. Close underapplied a bverapplied overnesp to the Coat of Goods Sald accaunt. 3. Prepore (oumbl entiles for the momth of April to record the above tronsections. Journal entry worksheet Record the entry tor misteral purchared an uredit. Requlred Information 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. Additional information Q. Raw Materials inventory has a March 31 balance of $80.000. b. Raw materials purchases in April are $590.000. and total factory payroll cost in April is $385.000. c. Actual overhead costs incurred in April are indirect materials, $53.000 : indirect labor. $24.000; factory rent, $35.000 : factory utilities. \$21.000: and factory equipment depreciation. $56.000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $645.000 cash in Apri. Problem 2-2A (Algo) Part 4 4. Prepare a schedule of cost of goods manufactured for the month enc April 30 . Requlred Information Problem 2.2A (Algo) Computing and recording job costo: preparing tenedule of cost of goods manufactured LO P1, P2, P3, P4 [The following information apolies to the questions displayed bejow.] Marco Company shows the following costs for three jobs worked on in April. Adeltionel Informetion a. Raw Materials Inventory has a March 31 balance of $80.000 b. Raw materials purchases in April are $590.000, and total factory payroll cost in April is $385.000. c. Actual overhead costs incurred in April are indirect materials, $53.000; indirect labor. $24,000 : factory rent. $35.000 : factory utilities, $21.000; and factory equipment depreciation. $56.000. d. Predetermined overhead rate is 50% of direct labor cost. e. 10b306 is sold for $645,000 cash in April. Problem 2-2A (Algo) Part 5 5-e. Compute gross orofit 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. Compute gross profit for April. Regulred infermation Problem 2.2A (Algo) Computing and recording job costs, preparing schedule of cost of goods menufectured Lo P1, P2, P3, Pa Adeltionsi informetion 0. Rew Meterisis inveritory has a March 31 baisnce or 180000 b. Pow meteriats purcheces in April sre $590000 and total factary payroll cost in Apri is 5 ass 000 C. Actubl oye hesd coete incured in Apri ne indivect materiais. 563000 indirect labor. 524000 factory rem. 335000 fectery utilities 3.21000 nnd foctory equpment depreciation 556000 a. Predetermined ovemesd rste is 50 s of direct isber cost - lab 306 is sold tor 9.645,000cosh in Apri Problem 2-2A (Algo) Port 5 9.6. Compute aross profit for Aaril 5.b. Show how the three invemtory accounts are reported on the Apri 30 baiance sheet Complete this question by entering vour answers in the tabs below. Shew how the three inventory accounts are reborted en the Aprt 30 balance sheet