Answered: Saved 2. Determine the total cost…

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter4: Accounting For Factory Overhead

Section: Chapter Questions

Problem 13E: Job 19AB required 10,000 for direct materials, 4,000 for direct labor, 300 direct labor hours, 150...

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Question

Marco Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials used (in March) $ 33,800 $ 39,800 Direct labor used (in March) 24,800 22,800 Overhead applied (March) 14,800 13,800 Costs during April Direct materials used 147,000 232,000 $ 112,000 Direct labor used 89,800 162,000 117,000 Overhead applied ?question mark ?question mark ?question mark Status on April 30 Finished (sold) Finished (unsold) In process Additional Information Raw Materials Inventory has a March 31 balance of $84,800. Raw materials purchases in April are $512,000, and total factory payroll cost in April is $375,000. Actual overhead costs incurred in April are indirect materials, $53,000; indirect labor, $26,000; factory rent, $35,000; factory utilities, $22,000; and factory equipment depreciation, $54,000. Predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $647,000 cash in April. 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31).