4 Required information Problem 19-1A Production costs computed and recorded; rep

Question

4 Required information Problem 19-1A Production costs computed and recorded; reports prepared LO C2, P1, P2, P3, PA The following information applies to the questions displayed below Part 3 of 4 Marcelino Co's March 31 inventory of raw materials is $84.000 Raw materials purchases in April are S530,000, and factory payroll cost in April is $387000 $29,000, factory rent, $36,000, factory utilities, $23,000, predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $655,000 cash in April Costs of the three jobs worked on in April follow 10 points Overhead costs incurred in April are: indirect materials, $50,000; indirect labor, and factory equipment depreciation, $54,000. The Job 306Job 307 Job 306s s 31,000s 36,000e 15,000 7.500 Direct materials 23,000 Applied overhead Costs during Apr 131,000285,000 $105,000 101,000 Direct labor Applied overhead Status on April 30 153,000 104,00 In process (unsold)

Explanation / Answer

Ans:- Calculation of total manufacturing costs Particular Amount Raw material used 441,000 (131000+205000+105000) Direct labour used 358,000 (101000+153000+104000) Overhad cost:- Indirect Material 50,000 Indirect Labour 29,000 factory rent 36,000 factory Utilities 23,000 factory Equipment depreciation 54,000 Total manufacturing costs 991,000 Calculation of Total cost of work in progess Total manufacturing costs 991,000 Add:- Opening work in progress 126,000 (31000+25000+11500)+(36000+15000+7500) Total cost of work in progess 1,117,000 Calculation of cost of goods manufactured Total cost of work in progess          1,117,000 Less:- Closing working in process           (261,000) (105000+104000+52000) Less:- Under applied work in process (13,000) (192000-179000) cost of goods manufactured 843,000

Related Questions

Navigate

• Browse (All)
• Browse 4
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.