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). Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Additional Information Predetermined overhead rate Overhead applied Job 306 $ 30,200 21,200 11,200 Required: 1. Determine the amount of overhead applied to each job in April. 6 138,000 86,200 ? Finished (sold) 306 Job 307 a. Raw Materials Inventory has a March 31 balance of $81,200. b. Raw materials purchases in April are $503,000, and total factory payroll cost in April is $366,000. c. Actual overhead costs incurred in April are indirect materials, $50,750; indirect labor, $23,750; factory rent, $32,750; factory utilities, $19,750; and factory equipment depreciation, $51,750. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $638,000 cash in April. 307 $36,200 19, 200 10, 200 223,000 $ 103,000 153,000 ? 108,000 ? In process Finished (unsold) Job 308 308 April Total
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). Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Additional Information Predetermined overhead rate Overhead applied Job 306 $ 30,200 21,200 11,200 Required: 1. Determine the amount of overhead applied to each job in April. 6 138,000 86,200 ? Finished (sold) 306 Job 307 a. Raw Materials Inventory has a March 31 balance of $81,200. b. Raw materials purchases in April are $503,000, and total factory payroll cost in April is $366,000. c. Actual overhead costs incurred in April are indirect materials, $50,750; indirect labor, $23,750; factory rent, $32,750; factory utilities, $19,750; and factory equipment depreciation, $51,750. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $638,000 cash in April. 307 $36,200 19, 200 10, 200 223,000 $ 103,000 153,000 ? 108,000 ? In process Finished (unsold) Job 308 308 April Total
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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)
Overhead applied (March)
Costs during April
Direct materials used
Direct labor used
Overhead applied
Status on April 30
Additional Information
Job 306
Predetermined overhead rate
Overhead applied
$ 30,200
21,200
11,200
306
138,000
86,200
?
Finished
(sold)
Required:
1. Determine the amount of overhead applied to each job in April.
Job 307
307
$36,200
19,200
10,200
a. Raw Materials Inventory has a March 31 balance of $81,200.
b. Raw materials purchases in April are $503,000, and total factory payroll cost in April is $366,000.
c. Actual overhead costs incurred in April are indirect materials, $50,750; indirect labor, $23,750; factory rent, $32,750;
factory utilities, $19,750; and factory equipment depreciation, $51,750.
d. Predetermined overhead rate is 50% of direct labor cost.
e. Job 306 is sold for $638,000 cash in April.
223,000 $ 103,000
153,000
108,000
?
In process
?
Finished
(unsold)
Job 308
308
April Total
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