Required information (The following information applies to the questions displayed below Marcelino Co.'s March 31 inventory of raw materials is $89,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $377,000. Overhead costs incurred in April are: indirect materials, $56,000; indirect labor, $20,000; factory rent, $38,000; factory utilities, $23,000: and factory equipment depreciation, $57,000. The edetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $695,000 cash in April. Costs of the three jobs worked on in April follow. 307 Job 308 Balances on March 31 Direct Direct labor 28,000 $ 41,000 22,000 11,000 17,000 8,500 Direct materials Direct labor Applied overhead 135,000 205,000 $ 100,000 104,000 152,00 0 101,000 Finished (sold) Finished (unsold) process In Status on April 30 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 28,000 41,000 s 69,000 7,000 for April (direct labor, direct materials, and applied overhead), and the total cost 307 308 28,000 135,000 104,000 101,000 Required information The following information applies to the questions displayed below. Marcelino Co.s March 31 inventory of raw materials is $89,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $377000. Overhead costs incurred in April are: indirect materials, $56,000; indirect labor $20,000; factory rent, $38,000; factory utilities, $23,000; and factory equipment depreciation, $57,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $695,000 cash in April. Costs of the three jobs worked on in April follow. Direct labor Applied overhead 28,000 41,000 17,000 8,500 22,000 11,000 Costs during April Direct materials Direct labor Applied overhead 135,000 205,000 100,000 104,000 152,000 101,000 inished Finished (sold) (unsold) process In Status on April 30 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.) g. 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 i. 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 list Journal entry worksheet 2 Record the entry for Materials purchases (on credit). Note: Enter debits before credits. Debit Credit a. Record entry Clear entry View general journal Required information IThe following information applies to the questions displayed below) Marcelino Co.'s March 31 inventory of raw materials is $89,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $377,000. Overhead costs incurred in April are: indirect materials, $56,000; indirect labor $20,000; factory rent, $38,000; factory utilities, $23,000; and factory equipment depreciation, $57,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $695,000 cash in April. Costs of the three jobs worked on in April follow 28,000 41,000 17,000 8,500 Direet materials Direct labor 22,000 11,000 Applied overhead Costs during April Direct materials 135,000 205,000 100,000 104,000152,000101,000 Applied overhead In Status on April 30 sold) (unsold) process 3. Prepare a schedule of cost of goods manufactured MARCELINO COMPANY of Cost of Goods M For Month Ended April 30 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 4.1 Compute gross profit for April. 4.2 Show how to present the inventories on the April 30 balance sheet Total inventories is available for its 25,000 4,400 208,175 177,900 249,060 100% Direct labor added Total costs to account for due to Total to a unit cost information, equivalent units Prepare a process cost summary report for this company, showing costs charged to pr of production, cost per EUP, and its cost assignment and reconciliation. Use the weighted-average method. (Round "Cost per EUP 2 decimal places.) to Units to account for: Total units to account for Total units a nted for EUP- Units | % Materials EUP-Materials % Conversion Total units t per Equivalent Unit of P uction Total costs Costs EUP EUP EUP EUP to 2 EUP EUP Chan Company i fast and standard. two types of go-karts: 290,000 parts , 203,000 200,000 270,000 490,000 94,000 750 i 2 models 270,000