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a Get 2 https/newconnect.mheducation.com/flow/connect.html & 15 6 Saved 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 of the three jobs worked on in April follow 386 Job 387 Job 308 Balances on March 31 Direct materials Direct labor Applied $ 26,800 43,000 16,00e 8,800 21,e88 10,588 overhead Costs during April Direct materials Direct labor Applied overhead status on April Finished 30 139,088 215,000 $108,000 101,880 151,66 184,80e Finished (sold)(unsold) process In e. Materials purchases ton credit) b. Direct materials used in production. c. Direct labor paid and assigned to work in Process Inventory C Prev 26 2 28 of 28 Next re to search

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Journal entries: Raw Material Inventory Dr. 530000     Accounts payable 530000 Work iN process Job No. 306 139000 Work in process Job no.307 215000 Work in process Job no. 308 100000     Raw material Inventory 454000 Work iN process Job No. 306 101000 Work in process Job no.307 151000 Work in process Job no. 308 104000        Cash Account 356000 Factory Overheads Account Dr. 29000      cash 29000 Work iN process Job No. 306 50500 Work in process Job no.307 75500 Work in process Job no. 308 52000       Factory Overheads 178000 Factory Overehads Dr. 50000    Raw material inventory 50000 Factory Overheads Dr. 24000      Cash Account 24000 Factory Overheads Account Dr. 52000     Accumulated Depreciation 52000 Factory Overheads 36000     Cash 36000 Finished Goods inventory Dr. 856500     Work in procecss Job No. 306 348000     Work in process No. Job no. 307 508500 Cost of Goods sold Dr. 348000      Finished goods inventory 348000 Accounts receivable Ddr. 690000       Sales revenue 690000 Cost of Goods sold Ddr. 13000      Factory Overheads Account 13000

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