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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 $86,000. 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 $86,000. Raw materials purchases in April are $520,000, and factory payroll cost in April is $384,000. Overhead costs incurred in April are: indirect materials, $50,000; indirect labor, $26,000; factory rent, $35,000; factory utilities, $20,000; and factory equipment depreciation, $59,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $670,000 cash in April. Costs of the three jobs worked on in April follow Job 306 Job 307 Job 308 Balances on March 31 Direct materials Direct labor Applied overhead $26,000 $ 41,00e 14,000 7,000 24,000 12,000 Costs during April Direct materials Direct labor Applied overhead 132,000 102,000 210,000 $ 120,000 103,000 153,000 Finished (sold) Finished (unsold) Status on April 30 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 308 April Total From March Direct Materials Direct Labor Applied overhead 26,000 24,000 12,000 41,000 14,000 7,000 S 67,000 38,000 19,000 Beginning goods in process For April Direct Materials 132,000 210,000 120,000 103,000 462,000 Direct Labor 102,000 153,000 358,000 Applied overhead Total costs added in April Total costs (April 30) Status on April 30 April 30 cost included in 234,000 363,000 223,000 820,000 Finished (sold) Finished (unsold) In process
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