Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information The following information applies to the questions displayed below.) Marco Company shows the following costs for three jobs worked on in April. Job

image text in transcribed
Required information The following information applies to the questions displayed below.) Marco Company shows the following costs for three jobs worked on in April. Job 386 Balances on March 31 Job 387 Job 308 Direct materials used in March) $ 29,400 $ 35,400 Direct labor used (in March) 20,400 18,400 Overhead applied (March) 10,400 9,400 Costs during April Direct materials used 136,000 221,000 $ 101,900 Direct labor used 85,400 151,000 106,000 Overhead applied Status on April 30 Finished Finished (sold) (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $80.400. b. Raw materials purchases in April are $501,000, and total factory payroll cost in April is $364,000 c. Actual overhead costs incurred in April are indirect materials, $50,250; Indirect labor, $23,250; factory rent, $32,250; factory utilities, $19,250; and factory equipment depreciation, $51,250, d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $636,000 cash in April. Required: 1. Determine the amount of overhead applied to each job in April. 306 307 308 April Total Predetermined overhead rate Overhead applied

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

6th Edition

9780470128848

More Books

Students also viewed these Accounting questions