Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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 306Job 307Job 308Balances on March 31Direct materials used (in March)$ 36,600$ 42,600Direct labor used (in March)27,60025,600Overhead applied (March)17,60016,600Costs during AprilDirect materials used154,000239,000$ 119,000Direct labor used92,600169,000124,000Overhead applied?question mark?question mark?question markStatus on April 30Finished (sold)Finished (unsold)In process

Additional Information

  1. Raw Materials Inventory has a March 31 balance of $87,600.
  2. Raw materials purchases in April are $519,000, and total factory payroll cost in April is $382,000.
  3. Actual overhead costs incurred in April are indirect materials, $54,750; indirect labor, $27,750; factory rent, $36,750; factory utilities, $23,750; and factory equipment depreciation, $55,750.
  4. Predetermined overhead rate is 50% of direct labor cost.
  5. Job 306 is sold for $654,000 cash in April.

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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Statistical Audit Automation Applying Computer Assisted Audit Techniques

Authors: Edward J. Winslow

1st Edition

1973281015, 978-1973281016

More Books

Students also viewed these Accounting questions

Question

F P %

Answered: 1 week ago

Question

1. Describe the types of power that effective leaders employ

Answered: 1 week ago