Required information Skip to question [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 $ 45,000 Direct labor used (in March) 24,000 17,000 Overhead applied (March) 12,000 8,500 Costs during April Direct materials used 138,000 215,000 $ 110,000 Direct labor used 101,000 154,000 101,000 Overhead applied ? ? ? Status on April 30 Finished (sold) Finished (unsold) In process Additional Information Raw Materials Inventory has a March 31 balance of $84,000. Raw materials purchases in April are $540,000, and total factory payroll cost in April is $379,000. Actual overhead costs incurred in April are indirect materials, $54,000; indirect labor, $23,000; factory rent, $32,000; factory utilities, $20,000; and factory equipment depreciation, $52,000. Predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 cash in April.

Requlred Information [The following information applles to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Additional Information a. Raw Materlais Inventory has a March 31 balance of $84,000. b. Raw materlals purchases in Aprll are $540,000, and total factory payroll cost in April is $379,000. c. Actual overhead costs incurred In April are Indirect materlals, $54,000; Indirect labor, $23,000; factory rent, $32,000; factory utillties, $20,000; and factory equipment depreclation, $52,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $635,000 cash in Aprll. Required: 1. Determine the amount of overhead applied to each job in April. 2. Determine the total cost assigned to each job as of Aprll 30 (including the balances from March 31). a. Materlais purchases (on credit). b. Direct materlals used. c. Direct labor used (and pald in cash) and assigned to Work In Process Inventory. d. Indirect materlals used and assigned to Factory Overhead. e. Indirect labor used (and pald 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 utilitles 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 recelved in cash. k. Close underapplled or overappled overhead to the Cost of Goods Sold account. 3. Prepare journal entrles for the month of April to record the above transactions. Journal entry worksheet 4. Prepare a schedule of cost of goods manufactured for the month end April 30 . 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the Aprll 30 balance sheet. Complete this question by entering your answers in the tabs below. Compute gross profit for April