[The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $386,000. Overhead costs incurred in April are: indirect materials, $51,000; indirect labor, $27,000; factory rent, $31,000; factory utilities, $25,000; and factory equipment depreciation, $51,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $660,000 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 Direct labor Applied overhead Costs during April $ 29,000 23,000 11,500 $ 45,000 15,000 7,500 138,000 210,000 $115,000 Direct materials Direct labor 152,000 104,000 103,000 ? Applied overhead ? ? Finished In Status on April 30 Finished (sold) (unsold) process
[The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $386,000. Overhead costs incurred in April are: indirect materials, $51,000; indirect labor, $27,000; factory rent, $31,000; factory utilities, $25,000; and factory equipment depreciation, $51,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $660,000 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 Direct labor Applied overhead Costs during April $ 29,000 23,000 11,500 $ 45,000 15,000 7,500 138,000 210,000 $115,000 Direct materials Direct labor 152,000 104,000 103,000 ? Applied overhead ? ? Finished In Status on April 30 Finished (sold) (unsold) process
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
3
![Required information
Problem 15-1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4
[The following information applies to the questions displayed below.]
Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $560,000, and
factory payroll cost in April is $386,000. Overhead costs incurred in April are: indirect materials, $51,000; indirect labor,
$27,000; factory rent, $31,000; factory utilities, $25,000; and factory equipment depreciation, $51,000. The predetermined
overhead rate is 50% of direct labor cost. Job 306 is sold for $660,000 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.
Direct labor
$ 45,000
$ 29,000
23,000
11,500
15,000
7,500
Applied overhead
Costs during April
Direct materials
Direct labor
Applied overhead
210,000
$115,000
138,000
103,000
152,000
104,000
?
?
?
Finished
(sold)
Finished
In
(unsold)
process
Problem 15-1A Part 3
3. Prepare a schedule of cost of goods manufactured.
MARCELINO COMPANY
Schedule of Cost of Goods Manufactured
For Month Ended April 30
Status on April 30
Total manufacturing costs
Total cost of work in process
Cost of goods manufactured
$
0
0
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd913a676-117f-47e7-8767-e93b793e0e69%2F42f9b196-0905-4332-a368-c05594f45437%2Fw7g7tza_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
Problem 15-1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4
[The following information applies to the questions displayed below.]
Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $560,000, and
factory payroll cost in April is $386,000. Overhead costs incurred in April are: indirect materials, $51,000; indirect labor,
$27,000; factory rent, $31,000; factory utilities, $25,000; and factory equipment depreciation, $51,000. The predetermined
overhead rate is 50% of direct labor cost. Job 306 is sold for $660,000 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.
Direct labor
$ 45,000
$ 29,000
23,000
11,500
15,000
7,500
Applied overhead
Costs during April
Direct materials
Direct labor
Applied overhead
210,000
$115,000
138,000
103,000
152,000
104,000
?
?
?
Finished
(sold)
Finished
In
(unsold)
process
Problem 15-1A Part 3
3. Prepare a schedule of cost of goods manufactured.
MARCELINO COMPANY
Schedule of Cost of Goods Manufactured
For Month Ended April 30
Status on April 30
Total manufacturing costs
Total cost of work in process
Cost of goods manufactured
$
0
0
0
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