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Required information {The following information applies to the questions displayed below.) Marcelino Co's March 31 inventory of raw materials is $80,000. Raw materials purchases in
Required information {The following information applies to the questions displayed below.) Marcelino Co's March 31 inventory of raw materials is $80,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $376,000. Overhead costs incurred in April are: indirect materials, $56,000; indirect labor, $21,000; factory rent, $31,000; factory utilities. $24.000, and factory equipment depreciation. $58,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $670,000 cash in April . Costs of the three jobs worked on in April follow. Job 306 Job 397 Job 308 Balances on March 31 Direct materials $ 30,000 $ 43,000 Direct labor 24,000 15,800 Applied overhead 12.000 7,500 Costs during April Direct materials 137,000 220,000 $120,000 Direct labor 100,000 153,000 102,80 Applied overhead Finished Status on April 30 (sold) Cunsold) process 7 7 In Finished Required: 1. Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and the totale assigned to each job (including the balances from March 31). Job 30 Anil Tata Job 300 Job 307 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 30,000 $ $ 24,000 12,000 66,000 43,000 15,000 7.500 65,500 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 73.000 39,000 19,500 131,500 $ $ $ 137.000 100,000 50,000 287.000 220,000 153,000 75,500 449,500 120,000 102.000 204,000 425,000 477,000 355,000 330,500 1.162,500 Total costs (April 30) $ O Status on April 30 April 30 cost included in Finished (sold) Cont of goods sold Finished unsold) Finished goods for In process Work in process inventary
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