Question
[The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $81,000. 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 $81,000. Raw materials purchases in April are $520,000, and factory payroll cost in April is $386,000. Overhead costs incurred in April are: indirect materials, $53,000; indirect labor, $28,000; factory rent, $39,000; factory utilities, $21,000; and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $700,000 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 | $ | 35,000 | ||||||||
Direct labor | 25,000 | 17,000 | ||||||||||
Applied overhead | 12,500 | 8,500 | ||||||||||
Costs during April | ||||||||||||
Direct materials | 139,000 | 215,000 | $ | 115,000 | ||||||||
Direct labor | 102,000 | 155,000 | 101,000 | |||||||||
Applied overhead | ? | ? | ? | |||||||||
Status on April 30 | Finished (sold) | Finished (unsold) | In process | |||||||||
rev: 02_06_2017_QC_CS-77766
32.
Required information
3. | Prepare a schedule of cost of goods manufactured. |
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