!Required informationProblem 19-2A (Algo) Computing and recording job costs; preparing schedule of cost of goodsmanufactured 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.Balances on March 31Direct materials used (in March)Direct labor used (in March)Overhead applied (March)Costs during AprilDirect materials usedDirect labor usedOverhead appliedStatus on April 30Additional InformationProblem 19-2A (Algo) Part 5Req 5AReq 5BInventoriesRaw materialsWork in processFinished goodsTotal inventoriesJob 306a. Raw Materials Inventory has a March 31 balance of $81,600.b. Raw materials purchases in April are $504,000, and total factory payroll cost in April is $367,000.c. Actual overhead costs incurred in April are indirect materials, $51,000; indirect labor, $24,000; factory rent, $33,000;factory utilities, $20,000; and factory equipment depreciation, $52,000.d. Predetermined overhead rate is 50% of direct labor cost.e. Job 306 is sold for $639,000 cash in April.$ 30,60021,60011,600Complete this question by entering your answers in the tabs below.$139,00086,600?Finished(sold)5-a. Compute gross profit for April.5-b. Show how the three inventory accounts are reported on the April 30 balance sheet.0Job 307< Req 5A$36,60019,60010,600224,000154,000?Finished(unsold)Show how the three inventory accounts are reported on the April 30 balance sheet.Job 308$ 104,000109,000?In processReq 5B >

Name: !Required informationProblem 19-2A (Algo) Computing and recording job
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Description: !Required informationProblem 19-2A (Algo) Computing and recording job costs; preparing schedule of cost of goodsmanufactured LO P1, P2, P3, P4[The following information applies to the questions displayed below.]Marco Company shows the following cost

The gross profit is the difference between the sale revenue and total cost of the Job soldThe ending…

Business

Accounting

ch 31 Hals used (in March) used (in March) ied (March) bril Hals used used ied ril 30 Job 306 $ 30,600 21,600 11,600 139,000 86,600 ? Finished (sold) Job 307 $ 36,600 19,600 10,600 224,000 154,000 ? Finished (unsold) mation als Inventory has a March 31 balance of $81,600. Job 308 $ 104,000 109,000 ? In process

ch 31 Hals used (in March) used (in March) ied (March) bril Hals used used ied ril 30 Job 306 $ 30,600 21,600 11,600 139,000 86,600 ? Finished (sold) Job 307 $ 36,600 19,600 10,600 224,000 154,000 ? Finished (unsold) mation als Inventory has a March 31 balance of $81,600. Job 308 $ 104,000 109,000 ? In process

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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