Required information [The following information applies to the questions displayed below.) Marcelino Co's March 31 inventory of raw materials is $90,000. Raw materials purchases in April are $520,000, and factory payroll cost in April is $389,000. Overhead costs incurred in April are: indirect materials, $52,000; indirect labor, $29,000; factory rent, $31000; 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 $635.000 cash in April. Costs of the three jobs worked on in April follow. Job 300 Job 306 $ 25,000 22,000 11,000 Job 307 $ 39,000 13,000 6,500 Balances on March 31 Direct materials bireet labor Applied overhead Coats during April Direct materials Direct labor Applied overhead Status on April 30 205.000 155,000 $105,000 101,000 133,000 104,000 2 Tinished (old) Pinished (old) 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 306 April Total $ $ 25.000 22.000 11,000 39,000 13,000 6,500 $ 64,000 35,000 17.500 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 133.000 104,000 205,000 155,000 105,000 101.000 443.000 380,000 Total costs Apr 30) Finished (old) Status on April 30 April 30 cost included in Finished unsold In process 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. 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 L. Revenue from the sale of Job 306. J. Assignment of any underapplied or overappled overhead to the Cost of Goods Sold account. (The amount is not material.) 2. Prepare journal entries for the month of April to record the above transactions View transaction that Journal entry worksheet Record the Direct labor paid and assigned to work in Process Inventory one before credits Transaction General Journal bab Creda Record entry Clear View general forma 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 1. Actunl 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. L. 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 material) 2. Prepare journal entries for the month of April to record the above transactions View transaction lit Journal entry worksheet 2 3 7 13 Record the Indirect labor paid and signed to Factory Overhead. Nie Erde berer Transaction General Journal Debit Cred Macerat Cherry View al 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 1. 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 1. Cost of goods sold for Job 306, Revenue from the sale of Job 306. Assignment of any underapplied or overapplied overhead to the cost of Goods Sold account (The amount is not material) 2. Prepare journal entries for the month of April to record the above transaction. View transaction that Journal entry worksheet 5 8 13 > Record the entry for Overhead costs applied to work in Process Inventory Transaction General doua Debit Cra Record entry Chewy Viewer 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 . 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 J. Assignment of any underapplied or averapplied overhead to the cost of Goods Sold account. (The amount is not material) 2. Prepare journal entries for the month of April to record the above transactions View transaction list Journal entry worksheet 1 12 3 4 5 5 7 6 13 Record the cost of indirect materials used oster det for General Journal Debit Cred Transaction f) Record entry Clementy View general journal 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. . 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 L. Revenue from the sale of Job 306. J. Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account (The amount is not material) 2. Prepare journal entries for the month of April to record the above transactions View transaction that Journal entry worksheet 4 5 6 7 8 13 > Record the cost of factory utilities, paid in cash. Norbert General Journal Det CH Transaction 21 Meerdry Cina View general journal 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 1. Actual overhead costs incurred, including indirect materials. (Factory rent and utilities are paid in cash) 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 amount is not material) 2. Prepare joumal entries for the month of April to record the above transactions View transaction lat Journal entry worksheet 1 4 5 6 7 8 9 > Record depreciation on factory equipment Note Enter General Jumal Det Cred Transaction 103) Record entry Cherry View general al 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 1. 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. L. Revenue from the sale of Job 306 J. Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. (The amount is not material) 2. Prepare journal entries for the month of April to record the above transactions View transaction lit Journal entry worksheet Record the cost of factory rent, paid in cash. Entercredi Traction 4) General Journal Debi C Macrony Cierry Viwanda 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 t. Actual overhead costs incurred, including indirect materials. (Factory rent and utilities are paid incash) Transfer of Jobs 306 and 307 to Finished Goods Inventory h. Cost of goods sold for Job 306. Revenue from the sale of Job 306 Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account (The amount is not material) 2. Prepare journal entries for the month of Apell to record the above transactions View transactions Journal entry worksheet 10 13 > Record the entry for transfer of Jobs 306 and 307 to Finished Goods Inventory General Journal Trento 0 Credit Randy Cle View al 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. L. Revenue from the sale of Job 306 J. Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account (The amount is not material) 2. Prepare journal entries for the month of April to record the above transactions View transaction Journal entry worksheet B 10 11 BER 13 > Secord the cost of goods sold for Job 305. on the Generalna Cream Transaction h Racord entry Clear my View general Journal 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 L. Actual overhead costs incurred, including indirect materials. (Factory rent and utilities are paid in cash) 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 amount is not material) 2. Prepare journal entries for the month of April to record the above transactions View transaction et Journal entry worksheet 9 10 12 13 > Record the revenue from the sale of Job 306 General Journal Det Cred ry Cher 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 t. 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 I. Revenue from the sale of Job 306 J. Assignment of any underappled or overapplied overhead to the Cost of Goods Sold account (The amount is not material) 2. Prepare journal entries for the month of April to record the above transactions View transaction Journal entry worksheet 9 12 13 > Record the entry for assignment of any underapplied or overapplied overhead to the cost of Goods Sold Generator De C Randy Cherry View all Required information (The following Information applies to the questions displayed below) Marcelino Cos March 31 inventory of raw materials is $90,000 Raw materiais purchases in April are $520,000, and factory payroll cost in April is $389.000. Overhead costs incurred in Aprilare: indirect materials, $52,000, indirect labor, $29.000, factory rent. $31,000; 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 $635,000 cash in April. Costs of the three jobs worked on in April follow Job 300 Balonces on March 31 Direct materiale Direct labor Applied overhead Costa during April Direct materials Direct labor Applied werhead Status on April 30 Job 306 $ 25,000 22.000 11,000 133,000 104,000 Job 307 $39,000 13,000 6,500 205,000 155.000 ? Tinished unsold) $105,000 101,000 7 In proces Finished (Hold) 3. Prepare a schedule of cost of goods manufactured MARCELINO COMPANY Schedule of Cost of Good Manufactured For Month Ended April Total manufacturing costs Total cost of work in process Cost of goods manufactured 3 17 Part 4 of 4 0.47 points Sport Required information [The following information applies to the questions displayed below) Marcelino Cos March 31 Inventory of raw materials is $90,000 Raw materials purchases in April are $520,000, and factory payroll cost in April is $389,000. Overhead costs incurred in April are Indirect materials, $52.000 indirect labor $29,000, factory rent, $31000, 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 $635,000 cash in April. Costs of the three Jobs worked on in April follow. Job 304 Job 307 Job 10 Balances on March 31 Direct materials $ 25,000 $ 9,000 Direct labor 22.000 13,000 Applied overhead 11.000 6.590 Coste during April Direct materiala 133,000 205,000 1105,000 Direct labor 104,000 155,000 101,000 applied overhead Tintened Status on April 30 Finished (old) (old) proceae > Pie In rences 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. Hequired 4A Required 48 Compute gross profit for April Grow pot Required 403 Required information (The following information applies to the questions displayed below) Marcelino Co's March 31 inventory of raw materials is $90,000, Raw materials purchases in April are $520,000, and factory payroll cost in April is $389,000. Overhead costs incurred in Aprilare: indirect materials, $52,000; indirect labor $29,000, factory rent, $31,000; 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 $635,000 cash in April. Costs of the three jobs worked on in April follow Job Job 06 # 25,000 32,000 11.000 Job 307 $ 30,000 13.000 6.500 balance on March 1 nire materials Dirut labor Applied overhead Corts during April Direct materiala Diret labor Applied overhead Status on April 30 133,000 100,000 205,000 155,000 21 Pished und) 1105,000 101,000 2 In proce Tinted (old) 4-a. Compute gross profit for April 4-b. Show how to present the inventories on the April 30 balance sheet Completo this question by entering your answers in the tabs below. Required A Required 4 Show how to present the inventories on the Apr 30 balance sheet Inwentares Raw materials Work in process Fished goods Danversores