Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Requlred Informatlon The following information applies to the questions displayed belowJ Marcelino Co.'s March 31 inventory of raw materials is $80,000. Raw materials purchases in

image text in transcribed

image text in transcribed

Requlred Informatlon The following information applies to the questions displayed belowJ Marcelino Co.'s March 31 inventory of raw materials is $80,000. Raw materials purchases in April are $590,000, and factory payroll cost in April is $379,000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $25,000; factory rent, $36,000; factory utilities, $20,000; and factory equipment depreciation, $51,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 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 20,000 10,000 $37,000 19,000 9,500 Costs during April $115.000 Direct materials Direct labor Applied overhead 135,000 210,000 101,000 152,000 101,000 Status on April 30 Finished (sold) Finished (unsold In process

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

More Books

Students also viewed these Finance questions