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 306 Job 387 Job 388 $ 25,000 21,000 10,500 $ 36,000 18,000 9,000 Balances on March 31 Direct materials used in March) Direct labor used in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 280,000 154,000 131,000 100,000 > Finished (sold) $ 115,000 102,000 2 Finished (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $81,000. b. Raw materials purchases in April are $580,000, and total factory payroll cost in April is $379.000 c. Actual overhead costs incurred in April are indirect materials, $54,000, indirect labor, $23,000; factory rent, $34.000, factory utilities, $20,000, and factory equipment depreciation, $54,000 d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $680,000 cash in April. Required: 1. Determine the amount of overhead applied to each job in April. 306 307 308 April Total $ 0 0.50 0.50 0.50 0.50 Predetermined overhead rate Overhead applied 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31). JOU 306 Job 107 Job $ $ 25,000 21,000 10,500 36,000 18,000 9,000 S 0 March Direct materials Direct labor Overhead applied Work in process, beginning April Direct materials Direct labor Overhead applied Costs added in April Total costs Status on April 30 April 30 cost included in 131,000 100,000 200,000 154,000 115,000 102,000 446,000 356,000 0 231.000 354.000 217,000 802.000 0 $ Finished (sold) Finished (unsold) in process 4. Prepare a schedule of cost of goods manufactured for the month end April 30. MARCO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs 0 Total cost of work in process $ 0 Cost of goods manufactured 5-a. Compute gross profit for April, 5-b. Show how the three inventory accounts are reported on the April 30 balance sheet Complete this question by entering your answers in the tabs below. Reg SA Reg 58 Compute gross profit for April Gross pront Req 5B > Complete this question by entering your answers in the tabs below. Reg SA Req 5B Show how the three inventory accounts are reported on the April 30 balance sheet. Inventories Raw materials Work in process Finished goods Total inventories S