Required Information The following information applies to the questions displayed below.] Marcelino Co.'s March 31 Inventory of raw materials is $85,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $388,000. Overhead costs incurred in April are: Indirect materials, $56,000; Indirect labor, $27,000, factory rent, $38,000; factory utilities, $22,000; and factory equipment depreciation, $55,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $640,000 cash in April. Costs of the three jobs worked on in April follow. Job 386 Job 387 Job 308 $ 25, eee 24, eee 12, eee $ 36,000 16,eee 8,000 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 135, eee 184,00 215,00 154,000 $110,000 103,000 Finished (sold) Finished (unsold) In process Required: 1. Determine the total of each production cost incurred for April (direct labor direct materials, and applied overhead), and the total cost assigned to each job (including the balances from March 31). Job 306 Job 307 Job 308 April Total From March Direct Materials $ 25,000 24,000 36.000 10,000 301.000 40.000 Direct Labor 4 Next > Applied overhead Status on April 30 Finished (sold) Finished (unsold) In process Required: 1. Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and the t assigned to each job (including the balances from March 31). Job 306 Job 307 Job 300 April Total $ $ 25.000 24.000 12.000 36,000 16,000 8,000 $ 81.000 40.000 20,000 From March Direct Materials Direct Labor Applied overhead Beginning goods in process For April Direct Materials Direct Labor Applied overhead Total costs added in April 135.000 104.000 215,000 154,000 480.000 110,000 103.000 361,000 Total costs (April 30) Finished (sold) Status on April 30 April 30 cost included in Finished unsold) In process 2. Prepare journal entries for the month of April to record the above transactions. View transaction list Journal entry worksheet Record the entry for Materials purchases (on credit). Note: Enter debits before credits. Transaction Debit Credit General Journal Raw materials inventory Accounts payable 85000 Record entry Clear entry View general Journal applied to Work In Process Inventory. f. Actual overhead costs incurred, including Indirect materials. (Factory rent and utilities are paid in 9. Transfer of Jobs 306 and 307 to Finished Goods Inventory h. Cost of goods sold for Job 306. L Revenue from the sale of Job 306. J. Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. (The ok 2 Prepare journal entries for the month of April to record the above transactions. View transactions ences Journal entry worksheet Record the direct materials used in production. Note Enter debit betere che Transaction General Journal Debit Credit Recordy E Actual overhead costs Incurred, Including Indirect materials. (Factory rent and utilities are paid in g. Transfer of Jobs 306 and 307 to Finished Goods Inventory h Cost of goods sold for Job 306. L Revenue from the sale of Job 306. 1. Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. (The 2. Prepare journal entries for the month of April to record the above transactions. View transaction let Journal entry worksheet Record the Direct labor paid and assigned to Work in Process Inventory. Note: Enter contredits Transaction Debit Credit General Journal Rent expense Utilites expense Recorinty Clearly Maapaalaama a. Materials purchases (on credit). b. Direct materials used in production c. Direct labor pald and assigned to Work In Process Inventory. d. Indirect labor pald and assigned to Factory Overhead. e. Overhead costs applied to Work In Process Inventory. f. Actual overhead costs incurred. Including Indirect materials. (Factory rent and utilities are paid in cas g. Transfer of Jobs 306 and 307 to Finished Goods Inventory. h. Cost of goods sold for Job 306. l Revenue from the sale of Job 306. J. Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. (The ar 2. Prepare journal entries for the month of April to record the above transactions. View transaction ist Journal entry worksheet Record the indirect labor paid and assigned to Factory Overhead, Nate Bater det before reces Transaction General Journal Debit Credit Racordury Ceranby production Direct labor pald and assigned to Work In Process Inventory. 1. Indirect labor paid and assigned to Factory Overhead. - Overhead costs applied to Work in Process Inventory. L. Actual overhead costs Incurred, including Indirect materials. (Factory rent and utilitie . Transfer of Jobs 306 and 307 to Finished Goods Inventory. Cost of goods sold for Job 306. L. Revenue from the sale of Job 306. J. Assignment of any underapplied or overapplied overhead to the cost of Goods Sold 2. Prepare journal entries for the month of April to record the above transactions. View transaction ist Journal entry worksheet Record the cost of indirect materials used. Transaction General Journal Debit Credit Feci Palu did assigned to Factory Overhead. verhead costs applied to Work In Process Inventory. ctual overhead costs incurred, Including Indirect materials. (Factory rent and utilities are ransfer of Jobs 306 and 307 to Finished Goods Inventory. Cost of goods sold for Job 306. Eevenue from the sale of Job 306. assignment of any underapplied or overapplied overhead to the Cost of Goods Sold accou Prepare journal entries for the month of April to record the above transactions. View fransaction let Journal entry worksheet Record the Cost of goods sold for Job 306 Transaction General Journal Debit Credit Racord any paid and assigned to Work In Process Inventory. 1. Indirect labor pald and assigned to Factory Overhead. 2. Overhead costs applied to Work In Process Inventory. f. Actual overhead costs incurred, including Indirect materials. (Factory rent and utilities are pald In ca Transfer of Jobs 306 and 307 to Finished Goods Inventory. Cost of goods sold for Job 306. L. Revenue from the sale of Job 306. J. Assignment of any underapplied or overapplied overhead to the cost of Goods Sold account. (The a 2. Prepare journal entries for the month of April to record the above transactions. View transaction dat Journal entry worksheet