Question
[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
[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 $540,000, and factory payroll cost in April is $362,000. Overhead costs incurred in April are: indirect materials, $54,000; indirect labor, $29,000; factory rent, $37,000; factory utilities, $23,000; and factory equipment depreciation, $57,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $680,000 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 | $ | 31,000 | $ | 40,000 | ||||||||||||
Direct labor | 24,000 | 18,000 | ||||||||||||||
Applied overhead | 12,000 | 9,000 | ||||||||||||||
Costs during April | ||||||||||||||||
Direct materials | 135,000 | 215,000 | $ | 115,000 | ||||||||||||
Direct labor | 102,000 | 155,000 | 102,000 | |||||||||||||
Applied overhead | ? | ? | ? | |||||||||||||
Status on April 30 | Finished (sold) | Finished (unsold) | In process | |||||||||||||
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