Required information The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $386,000. Overhead costs incurred in April are: indirect materials, $53,000; indirect labor, $27,000; factory rent, $38,000; factory utilities, $23,000; and factory equipment depreciation, $59,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 Balances on March 31 Direct materials $ 26,000 23,000 11,500 $ 36,000 18,000 9,000 Direct labor Applied overhead Costs during April Direct materials 134,000 102,000 210,000 153,000 $110,000 104,000 Direct labor Applied overhead Finished Finished In Status on April 30 (sold) (unsold) process

roblem 15-1a & 15-4a Served Help Save & Exit Subm Check my work Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $386,000. Overhead costs incurred in April are: Indirect materials, $53,000; indirect labor, $27,000; factory rent, $38,000; factory utilities, $23,000; and factory equipment depreciation, $59,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 Balances on March 31 Direct materials $ 26,000 $ 36,000 Direct labor 23,000 18,000 Applied overhead 11,500 9,000 Costs during April Direct materials 134,000 210,000 $110,000 Direct labor 102,000 153,000 104,000 Applied overhead 2 Pinished Pinished In Status on April 30 (sold) (unsold) process 2 a. Materials purchases (on credit). b. Direct materials used in production c. Direct labor paid and assigned to Work in Process Inventory. d. Indirect labor paid 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 cash.) 9. Transfer of Jobs 306 and 307 to Finished Goods Inventory. h. Cost of goods sold for Job 306. 1. Revenue from the sale of Job 306, 1. Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. (The amount is not materia 2. Prepare journal entries for the month of April to record the above transactions. - 15 - Problem 15-1a & 15-4a Sarved sold for $635,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $ 26,000 23,000 11,500 $ 36,000 19,000 9,000 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 134,000 102,000 7 Finished (sold) 210,000 153,000 ? Finished (unsold) $110,000 104,000 ? process 3. Prepare a schedule of cost of goods manufactured. MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs Total cost of work in process Cost of goods manufactured materials, $53,000; indirect labor, $27,000; factory rent, $38,000; factory utilities, $23,000; and factory equipment depreciation, $59,000. The predetermined overhead rate is 50% of direct labor cost. Job 30 sold for $635,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $ 26,000 23,000 11,500 $ 36,000 18,000 9,000 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 134,000 102,000 ? Finished (old) 210,000 153,000 2 Finished (unsold) $110,000 104,000 2 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 4B Compute gross profit for April