Requlred Informatlon [The following information applies to the questions displayed below.] Marcelino Co's March 31 inventory of raw materials is $80.000. Raw materials purchases in April are $500,000, and factory payroll cost in April is $363.000. Overhead costs incurred in April are: indirect materials, $50,000; indirect labor, $23.000; factory rent, $32.000: factory utilities, $19,000: and factory equipment depreciation, $51.000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635.000 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 $ 29,000 $ 35,000 Direct labor 20,000 18,000 Applied 9,000 10,000 overhead Costs during April Direct 220,000 $100,000 135,000 materials Direct labor 150,000 85,000 105,000 Applied overhead Finished (unsold) Status on April Finished (sold) In 30 process April Total Job 306 Job 307 Job 308 From March 35,000 Direct Materials 29,000 64,000 Direct Labor 20,000 18,000 38,000 10,000 Applied overhead 9,000 19,000 Beginning goods in process $ 121,000 59,000 82,000 For April 220,000 Direct Materisls 135,000 100,000 455,000 150,000 105.000 Direct Labor 85,000 340,000 Applied overhead 52,500 42,500 75,000 170,000 445,000 Total costs added in April 282,500 257,500 965,000 Total costs (April 30) 257,500 321,500 507,000 1,088,000 Finished (sold) Finished (unsold) Status on April 30 In process Cost of goods sold Finished goods inventory Work in process inventory April 30 cost included in:
Requlred Informatlon [The following information applies to the questions displayed below.] Marcelino Co's March 31 inventory of raw materials is $80.000. Raw materials purchases in April are $500,000, and factory payroll cost in April is $363.000. Overhead costs incurred in April are: indirect materials, $50,000; indirect labor, $23.000; factory rent, $32.000: factory utilities, $19,000: and factory equipment depreciation, $51.000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635.000 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 $ 29,000 $ 35,000 Direct labor 20,000 18,000 Applied 9,000 10,000 overhead Costs during April Direct 220,000 $100,000 135,000 materials Direct labor 150,000 85,000 105,000 Applied overhead Finished (unsold) Status on April Finished (sold) In 30 process April Total Job 306 Job 307 Job 308 From March 35,000 Direct Materials 29,000 64,000 Direct Labor 20,000 18,000 38,000 10,000 Applied overhead 9,000 19,000 Beginning goods in process $ 121,000 59,000 82,000 For April 220,000 Direct Materisls 135,000 100,000 455,000 150,000 105.000 Direct Labor 85,000 340,000 Applied overhead 52,500 42,500 75,000 170,000 445,000 Total costs added in April 282,500 257,500 965,000 Total costs (April 30) 257,500 321,500 507,000 1,088,000 Finished (sold) Finished (unsold) Status on April 30 In process Cost of goods sold Finished goods inventory Work in process inventory April 30 cost included in:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
What is the Gross Profit for April?
![Requlred Informatlon
[The following information applies to the questions displayed below.]
Marcelino Co's March 31 inventory of raw materials is $80.000. Raw materials purchases in April are $500,000, and
factory payroll cost in April is $363.000. Overhead costs incurred in April are: indirect materials, $50,000; indirect labor,
$23.000; factory rent, $32.000: factory utilities, $19,000: and factory equipment depreciation, $51.000. The predetermined
overhead rate is 50% of direct labor cost. Job 306 is sold for $635.000 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
$ 29,000
$ 35,000
Direct labor
20,000
18,000
Applied
9,000
10,000
overhead
Costs during
April
Direct
220,000
$100,000
135,000
materials
Direct labor
150,000
85,000
105,000
Applied
overhead
Finished
(unsold)
Status on April Finished
(sold)
In
30
process](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F12ea03a2-af89-4559-a96e-0e0bbd727ac6%2Fe7033f25-5fbe-458c-a30f-2f095992a16c%2Fvqpoap.jpeg&w=3840&q=75)
Transcribed Image Text:Requlred Informatlon
[The following information applies to the questions displayed below.]
Marcelino Co's March 31 inventory of raw materials is $80.000. Raw materials purchases in April are $500,000, and
factory payroll cost in April is $363.000. Overhead costs incurred in April are: indirect materials, $50,000; indirect labor,
$23.000; factory rent, $32.000: factory utilities, $19,000: and factory equipment depreciation, $51.000. The predetermined
overhead rate is 50% of direct labor cost. Job 306 is sold for $635.000 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
$ 29,000
$ 35,000
Direct labor
20,000
18,000
Applied
9,000
10,000
overhead
Costs during
April
Direct
220,000
$100,000
135,000
materials
Direct labor
150,000
85,000
105,000
Applied
overhead
Finished
(unsold)
Status on April Finished
(sold)
In
30
process
Transcribed Image Text:April Total
Job 306
Job 307
Job 308
From March
35,000
Direct Materials
29,000
64,000
Direct Labor
20,000
18,000
38,000
10,000
Applied overhead
9,000
19,000
Beginning goods in process
$ 121,000
59,000
82,000
For April
220,000
Direct Materisls
135,000
100,000
455,000
150,000
105.000
Direct Labor
85,000
340,000
Applied overhead
52,500
42,500
75,000
170,000
445,000
Total costs added in April
282,500
257,500
965,000
Total costs (April 30)
257,500
321,500
507,000
1,088,000
Finished (sold)
Finished (unsold)
Status on April 30
In process
Cost of goods sold
Finished goods inventory
Work in process inventory
April 30 cost included in:
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