[The following information applies to the questions displayed below.) Marco Company shows the following costs for three jobs worked on in April. Job 306 Job 307 $ 28,000 $ 40,000 22,000 14,000 7,000 11,000 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 30 135,000 101,000 ? Finished (sold) 220,000 $100,000 154,000 103,000 ? In process Finished (unsold) Job 308 Additional Information a. Raw Materials Inventory has a March 31 balance of $83,000. b. Raw materials purchases in April are $570,000, and total factory payroll cost in April is $387,000. c. Actual overhead costs incurred in April are indirect materials, $51,000; indirect labor, $29,000; factory rent, $39,000; factory utilities, $24,000; and factory equipment depreciation, $63,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $655,000 cash in April. 4. Prepare a schedule of cost of goods manufactured for the month end April 30.

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 15E: The books of Petry Products Co. revealed that the following general journal entry had been made at...
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[The following information applies to the questions displayed below.]
Marco Company shows the following costs for three jobs worked on in April.
Job 306
Job 307
Job 388.
$ 28,000
$ 40,000
22,000
11,000
14,000
7,000
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
135,000 220,000
101,000
?
154,000
?
Finished
(sold)
Finished
(unsold)
$100,000
103,000
In process
Additional Information
a. Raw Materials Inventory has a March 31 balance of $83,000.
b. Raw materials purchases in April are $570,000, and total factory payroll cost in April is $387,000.
c. Actual overhead costs incurred in April are indirect materials, $51,000; indirect labor, $29,000; factory rent, $39,000;
factory utilities, $24,000; and factory equipment depreciation, $63,000.
d. Predetermined overhead rate is 50% of direct labor cost.
e. Job 306 is sold for $655,000 cash in April.
4. Prepare a schedule of cost of goods manufactured for the month end April 30.
Transcribed Image Text:[The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 388. $ 28,000 $ 40,000 22,000 11,000 14,000 7,000 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 30 135,000 220,000 101,000 ? 154,000 ? Finished (sold) Finished (unsold) $100,000 103,000 In process Additional Information a. Raw Materials Inventory has a March 31 balance of $83,000. b. Raw materials purchases in April are $570,000, and total factory payroll cost in April is $387,000. c. Actual overhead costs incurred in April are indirect materials, $51,000; indirect labor, $29,000; factory rent, $39,000; factory utilities, $24,000; and factory equipment depreciation, $63,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $655,000 cash in April. 4. Prepare a schedule of cost of goods manufactured for the month end April 30.
4. Prepare a schedule of cost of goods manufactured for the month end April 30.
MARCO COMPANY
Schedule of Cost of Goods Manufactured
For Month Ended April 30
Total manufacturing costs
Total cost of work in process
Cost of goods manufactured
Transcribed Image Text:4. Prepare a schedule of cost of goods manufactured for the month end April 30. MARCO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs Total cost of work in process Cost of goods manufactured
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