Required information [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 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 Job 306 Job 307 Job 308 $ 30,600 21,600 11,600 $ 36,600 19,600 10,600 139,000 86,600 224,000 154,000 P 104,000 109,000 P Finished (sold) Finished (unsold) In process Additional Information a. 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. 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Req 5A Req 5B Compute gross profit for April. Groce profit
Required information [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 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 Job 306 Job 307 Job 308 $ 30,600 21,600 11,600 $ 36,600 19,600 10,600 139,000 86,600 224,000 154,000 P 104,000 109,000 P Finished (sold) Finished (unsold) In process Additional Information a. 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. 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Req 5A Req 5B Compute gross profit for April. Groce profit
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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![Required information
[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 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
Job 306
Job 307
Job 308
$ 30,600
21,600
11,600
$ 36,600
19,600
10,600
139,000
86,600
224,000
154,000
P
104,000
109,000
P
Finished
(sold)
Finished
(unsold)
In process
Additional Information
a. 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.
5-a. Compute gross profit for April.
5-b. Show how the three inventory accounts are reported on the April 30 balance sheet.
Complete this question by entering your answers in the tabs below.
Req 5A
Req 5B
Compute gross profit for April.
Groce profit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5a9e07b4-dd2f-4b1f-a64b-561050236405%2Fca28c143-2910-4c80-91b8-662adf1a8f23%2Fmw8dg9r_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[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 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
Job 306
Job 307
Job 308
$ 30,600
21,600
11,600
$ 36,600
19,600
10,600
139,000
86,600
224,000
154,000
P
104,000
109,000
P
Finished
(sold)
Finished
(unsold)
In process
Additional Information
a. 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.
5-a. Compute gross profit for April.
5-b. Show how the three inventory accounts are reported on the April 30 balance sheet.
Complete this question by entering your answers in the tabs below.
Req 5A
Req 5B
Compute gross profit for April.
Groce profit
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