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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
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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 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 processAdditional Information
- Raw Materials Inventory has a March 31 balance of $87,600.
- Raw materials purchases in April are $519,000, and total factory payroll cost in April is $382,000.
- 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.
- Predetermined overhead rate is 50% of direct labor cost.
- 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.
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