Required information. [The following information applies to the questions displayed below) Marco Company shows the following costs for three jobs worked on in Apri Balances on March 31 Direct materials used in Marchi Direct labor uned (in March) overhead applied (March) Costs during April Direct labor used Direct materials used Overhead applied Statue on April 30 Additional Information Job 306 5 28,000 21,000 10,500 5 44,000 16,000- 9,000 139,000 215,000 115,000 101,000 154,000 Finished (sold) 103,000 Finished In process (sold) a. Raw Materials Inventory has a March 31 balance of $86,000. b. Raw materials purchases in April are $580,000, and total factory payroll cost in April is $381,000. c. Actual overhead costs incurred in April are indirect materials, $53,000: indirect labor, $24,000; factory rent, $35.000. factory utilities, $22.000; and factory equipment depreciation, $57,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $675,000 cash in April. 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31) March Job 306 $ 28,000 $ Job 307 44,000 16,000 8.000 Job 308 April Total $ 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31 Job 306 Job 307 March Job 30 April Total Direct materials Direct labor: Overhead applied $ 28,000 $ 21,000 10,500 44,000 16.000 8,000 Work in process, beginning April Direct materials 139,000 215,000 115,000 409,000 Direct labor 101,000 154,000 102,000 357,000 0 Overhead applied Costs added in April Total costs 240,000 369,000 217,000 826.000 $ Status on April 30 Finished (sold) Finished (unsold) In process April 30 cost included in: < Prev G 45 of 8 Next > a. Materials purchases (on credit). b. Direct materials used. c. Direct labor used (and paid in cash) and assigned to Work in Process Inventory d. Indirect materials used and assigned to Factory Overhead. e. Indirect labor used (and paid in cash) and assigned to Factory Overhead. f. Overhead costs applied to Work in Process Inventory. g. Actual other overhead costs incurred (Factory rent and utilities are paid in cash) h. Transfer of Jobs 306 and 307 to Finished Goods Inventory 1. Cost of goods sold for Job 306. J. Revenue from the sale of Job 306 received in cash. k. Close underapplied or overapplied overhead to the Cost of Goods Sold account 3. Prepare journal entries for the month of April to record the above transactions View transaction list Journal entry worksheet 1 2 3 4 5 6. 7 8. 11 Record the entry for material purchased on credit. Note: Enter debits before credits. General Journal Debit Credit Next >