c. Actual overhead costs incurred in April are indirect materials, $54,250; indirect labor, $27,250; factory rent, $36,250; factory utilities, $23,250; and factory equipment depreciation, $55,250. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $652,000 cash in April. 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31). Job 306 March Direct materials $ 35,800 $ Direct labor 26,800 Overhead applied 16,800 Work in process, beginning April Direct materials Direct labor Overhead applied Costs added in April Total costs Job 307 41,800 24,800 15,800 Job 308 April Total 152,000 237,000 91,800 167,000 117,000 122,000 243,800 Status on April 30 Finished (sold) April 30 cost included in: 404,000 Finished (unsold) In process $ 0 506,000 380,800 0 239,000 886,800 $ 0 Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials used (in March) Direct labor used (in March) Job 306 Job 307 Job 308 $ $ 35,800 41,800 26,800 24,800 Overhead applied (March) 16,800 15,800 Costs during April $ Direct materials used 152,000 237,000 Direct labor used ? ? 117,000 91,800 167,000 122,000 ? In Overhead applied Status on April 30 Additional Information FinishedFinished (sold) (unsold) process a. Raw Materials Inventory has a March 31 balance of $86,800. b. Raw materials purchases in April are $517,000, and total factory payroll cost in April is $380,000. c. Actual overhead costs incurred in April are indirect materials, $54,250; indirect labor, $27,250; factory rent, $36,250; factory utilities, $23,250; and factory equipment depreciation, $55,250. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $652,000 cash in April.
c. Actual overhead costs incurred in April are indirect materials, $54,250; indirect labor, $27,250; factory rent, $36,250; factory utilities, $23,250; and factory equipment depreciation, $55,250. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $652,000 cash in April. 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31). Job 306 March Direct materials $ 35,800 $ Direct labor 26,800 Overhead applied 16,800 Work in process, beginning April Direct materials Direct labor Overhead applied Costs added in April Total costs Job 307 41,800 24,800 15,800 Job 308 April Total 152,000 237,000 91,800 167,000 117,000 122,000 243,800 Status on April 30 Finished (sold) April 30 cost included in: 404,000 Finished (unsold) In process $ 0 506,000 380,800 0 239,000 886,800 $ 0 Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials used (in March) Direct labor used (in March) Job 306 Job 307 Job 308 $ $ 35,800 41,800 26,800 24,800 Overhead applied (March) 16,800 15,800 Costs during April $ Direct materials used 152,000 237,000 Direct labor used ? ? 117,000 91,800 167,000 122,000 ? In Overhead applied Status on April 30 Additional Information FinishedFinished (sold) (unsold) process a. Raw Materials Inventory has a March 31 balance of $86,800. b. Raw materials purchases in April are $517,000, and total factory payroll cost in April is $380,000. c. Actual overhead costs incurred in April are indirect materials, $54,250; indirect labor, $27,250; factory rent, $36,250; factory utilities, $23,250; and factory equipment depreciation, $55,250. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $652,000 cash in April.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:c. Actual overhead costs incurred in April are indirect materials, $54,250;
indirect labor, $27,250; factory rent, $36,250; factory utilities, $23,250; and
factory equipment depreciation, $55,250.
d. Predetermined overhead rate is 50% of direct labor cost.
e. Job 306 is sold for $652,000 cash in April.
2. Determine the total cost assigned to each job as of April 30 (including the balances
from March 31).
Job 306
March
Direct materials
$
35,800
$
Direct labor
26,800
Overhead applied
16,800
Work in process, beginning
April
Direct materials
Direct labor
Overhead applied
Costs added in April
Total costs
Job 307
41,800
24,800
15,800
Job 308
April Total
152,000
237,000
91,800
167,000
117,000
122,000
243,800
Status on April 30
Finished (sold)
April 30 cost included in:
404,000
Finished (unsold)
In process
$
0
506,000
380,800
0
239,000
886,800
$
0
Transcribed Image Text:Marco Company shows the following costs for three jobs worked on in April.
Balances on March 31
Direct materials used
(in March)
Direct labor used (in
March)
Job 306 Job 307 Job 308
$
$
35,800 41,800
26,800 24,800
Overhead applied (March) 16,800 15,800
Costs during April
$
Direct materials used
152,000 237,000
Direct labor used
?
?
117,000
91,800 167,000 122,000
?
In
Overhead applied
Status on April 30
Additional Information
FinishedFinished
(sold) (unsold) process
a. Raw Materials Inventory has a March 31 balance of $86,800.
b. Raw materials purchases in April are $517,000, and total factory payroll cost in
April is $380,000.
c. Actual overhead costs incurred in April are indirect materials, $54,250;
indirect labor, $27,250; factory rent, $36,250; factory utilities, $23,250; and
factory equipment depreciation, $55,250.
d. Predetermined overhead rate is 50% of direct labor cost.
e. Job 306 is sold for $652,000 cash in April.
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