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 306 Job 387 Job 308 $ 25,eee 24,600 12,800 $ 36,000 16,000 8,eee Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 135, een 184,000 215,000 154,000 $110,000 103,eee Finished (sold) Finished (unsold) In process 4-a. Compute gross profit for April. 4-b. Show how to present the inventories on the April 30 balance sheet Complete this question by entering your answers in the tabs below. Required 4A Required 48 Compute gross profit for April. Gross profit DO 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 labc $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 306 Job 387 Job 308 $ 25,000 24,000 12,000 $ 36,000 16,000 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 104,800 215,000 154,800 $110,000 103,800 Finished (sold) Finished (unsold) In process 4-a. Compute gross profit for April. 4-6. Show how to present the Inventories on the April 30 balance sheet Complete this question by entering your answers in the tabs below. Required 4 Required 4B Compute gross profit fo April. Gross profit Required 48 > browser=0& launchUrl=h 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 lal $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 thn jobs worked on in April follow. Job 386 Job 387 Job 388 Balances on March 31 Direct materials $ 25, eee $36, eee Direct labor 24,000 16,00 Applied overhead 12,080 8,eee Costs during April Direct materials 135,000 215,000 $110,000 Direct labor 184,600 154,000 103,000 Applied overhead Finished Finished Status on April 30 In process (sold) (unsold) 4-a. Compute gross profit for April. 4-6. Show how to present the inventories on the April 30 balance sheet Complete this question by entering your answers in the tabs below. Required 4 Required 45 Show how to present the inventories on the April 30 balance sheet. Inventories Raw materials Work in process Finished goods Total inventones Reged 2A Prey
