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Required information Problem 2-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 Skip to question

Required information

Problem 2-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4

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[The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April.

Job 306 Job 307 Job 308
Balances on March 31
Direct materials used (in March) $ 31,000 $ 37,000
Direct labor used (in March) 22,000 17,000
Overhead applied (March) 11,000 8,500
Costs during April
Direct materials used 134,000 210,000 $ 115,000
Direct labor used 101,000 153,000 101,000
Overhead applied ? ? ?
Status on April 30 Finished (sold) Finished (unsold) In process

Additional Information

Raw Materials Inventory has a March 31 balance of $82,000.

Raw materials purchases in April are $510,000, and total factory payroll cost in April is $379,000.

Actual overhead costs incurred in April are indirect materials, $53,000; indirect labor, $24,000; factory rent, $38,000; factory utilities, $23,000; and factory equipment depreciation, $61,000.

Predetermined overhead rate is 50% of direct labor cost.

Job 306 is sold for $685,000 cash in April.

Problem 2-2A (Algo) Part 4

4. Prepare a schedule of cost of goods manufactured for the month end April 30.

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