[The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $89,000. Raw materials purchases in April are $540,000, and factory payroll cost in April is $384,000. Overhead costs incurred in April are: indirect materials, $52,000; indirect labor, $25,000; factory rent. $30,000; factory utilities, $25,000; and factory equipment depreciation, $58,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $685,000 cash in April. Costs of the three jobs worked on in April follow. Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 Job 306 $ 30,000 24,000 12,000 140,000 102,000 7 Finished (sold) Job 307 $ 45,000 15,000 7,500 MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 20 210,000 154,000 7 Finished (unsold) 3. Prepare a schedule of cost of goods manufactured. Job 308 $105,000 103,000 In process
[The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $89,000. Raw materials purchases in April are $540,000, and factory payroll cost in April is $384,000. Overhead costs incurred in April are: indirect materials, $52,000; indirect labor, $25,000; factory rent. $30,000; factory utilities, $25,000; and factory equipment depreciation, $58,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $685,000 cash in April. Costs of the three jobs worked on in April follow. Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 Job 306 $ 30,000 24,000 12,000 140,000 102,000 7 Finished (sold) Job 307 $ 45,000 15,000 7,500 MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 20 210,000 154,000 7 Finished (unsold) 3. Prepare a schedule of cost of goods manufactured. Job 308 $105,000 103,000 In process
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![[The following information applies to the questions displayed below.]
Marcelino Co's March 31 inventory of raw materials is $89,000. Raw materials purchases in April are $540,000, and
factory payroll cost in April is $384,000. Overhead costs incurred in April are: indirect materials, $52.000; indirect labor.
$25,000; factory rent, $30,000; factory utilities, $25,000; and factory equipment depreciation, $58,000. The
predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $685,000 cash in April. Costs of the three
jobs worked on in April follow.
Balances on March 31
Direct materials
Direct labor
Applied overhead
Costs during April
Direct materials
Direct labor
Applied overhead
Status on April 30
Job 3067
$ 30,000
24,000
12,000
140,000
102,000
Finished
(sold)
Job 307
$ 45,000
15,000
7,500
MARCELINO COMPANY
Schedule of Cost of Goods Manufactured
For Month Ended April 30.
210,000 $105,000
154,000
2
Finished
(unsold)
3. Prepare a schedule of cost of goods manufactured.
Job 308
103,000
7
In
process](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F599b4352-bb2e-40f8-b072-b4902eeb3da7%2Fce5d6ce6-5927-42a4-a0ed-598d31f872e2%2Ftnhs4pc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:[The following information applies to the questions displayed below.]
Marcelino Co's March 31 inventory of raw materials is $89,000. Raw materials purchases in April are $540,000, and
factory payroll cost in April is $384,000. Overhead costs incurred in April are: indirect materials, $52.000; indirect labor.
$25,000; factory rent, $30,000; factory utilities, $25,000; and factory equipment depreciation, $58,000. The
predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $685,000 cash in April. Costs of the three
jobs worked on in April follow.
Balances on March 31
Direct materials
Direct labor
Applied overhead
Costs during April
Direct materials
Direct labor
Applied overhead
Status on April 30
Job 3067
$ 30,000
24,000
12,000
140,000
102,000
Finished
(sold)
Job 307
$ 45,000
15,000
7,500
MARCELINO COMPANY
Schedule of Cost of Goods Manufactured
For Month Ended April 30.
210,000 $105,000
154,000
2
Finished
(unsold)
3. Prepare a schedule of cost of goods manufactured.
Job 308
103,000
7
In
process
Transcribed Image Text:Costs during April
Direct materials.
Direct labor
Applied overhead
Status on April 30
Total manufacturing costs
140,000
102,000
P
MARCELINO COMPANY
Schedule of Cost of Goods Manufactured
For Month Ended April 30.
Total cost of work in process
Finished
(sold)
3. Prepare a schedule of cost of goods manufactured.
Cost of goods manufactured
210,000
154,000
?
Finished
(unsold)
$105,000
103,000
?
In
process
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