2 https:/newconnect.mheducation.com/flow/connect html Required information The f

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2 https:/newconnect.mheducation.com/flow/connect html Required information The following information applies to the questions displayed below Marcelino Co.'s March 31 inventory of raw materials is $82,000. Raw materials purchases in April are $530,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $50,000, indirect labor $29.000, factory rent, $36,000, factory utilities, $24,000, and factory equipment depreciation, $52,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $690,000 cash in April. Costs or the three jobs worked on in April follow Balances on March 31 Direct materials Direct labor Applied overhead $ 26,000 43,808 16,680 8,880 21,000 10,500 Costs during April Direct materials Direct labor Applied overhead Status on April Finished 30 139,800 215,000 $100,000 101,808 151,688 104,000 Finished (sold)(unsold) process In equired: Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and the tot ssigned to each job (including the balances from March 31) search

Explanation / Answer

Job 306 Job 307 Job 308 April Total From March Material 26000 43000 69000 labouur 21000 16000 37000 Applied overheads 10500 8000 18500 Beginning Goods in process 57500 67000 124500 For April: Material 139000 215000 100000 454000 Labour 101000 151000 104000 356000 Applied Overheads 50500 75500 52000 178000 Total Cost added in April 290500 441500 256000 988000 Total Cost (April30) 348000 508500 256000 1112500 Status FG (Sold) Finished(Unsold) In process April30 Cost included in: Cost of Ggoods sold Finished Goods WIP

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