Simple Accounting

Required information Problem 15-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 [The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Additional Information a. Raw Materials Inventory has a March 31 balance of $81,000. b. Raw materials purchases in April are $520,000, and total factory payroll cost in April is $391,000. c. Actual overhead costs incurred in April are indirect materials, $56,000; indirect labor, $28,000; factory rent, $33,000; factory utilities, $23,000; and factory equipment depreciation, $56,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $635,000 cash in April. Problem 15-2A (Algo) Part 4 4. Prepare a schedule of cost of goods manufactured for the month end April 30