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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 $83,000. 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 $83,000. Raw materials purchases in April are $560,0oo, and factory payroll cost in April is $379,000. Overhead costs incurred in April are: indirect materials. $51,000: indirect labor $21,000; factory rent, $37,000; factory utilities, $24,000; and factory equipment depreciation. $51,000 The predetermined overhead rate is 50% of direct labor cost Job 306 is sold for $695,000 cash in April. Costs of the three obs worked on in April follow. Balances on March 31 Direct materials Direct labor Applied overhead s 27,000 s 48,eee 24,600 12,e0914,8e0 132,ee8 208,0015,ee8 7,eee Costs during April Direct materials Direct labor Applied overhead 153,000 Finished sold)(unsold)process 1e4,000 101,ee8 Finished Status on April 38 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) From March Direct Materials Direct Labor Applied overhead 27,000 24,000 12,000 40,000 14,000 7000 $67,000 38,000 19,000 Beginning goods in process For Apri Direct Materials 132,000 104,000 200,000 153,000 105,000 437,000 358,000 Direct Labor 101,000 Applied overhead Total costs added in April Total costs (April 30) Status on April 30 Apei 30 cost included in 236,000 353,000 206 795,000 Finished (sold) Finished (unsold) In process
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