00 Part 4 of 4 92 oints eBook Print References ! Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $80,000. Raw materials purchases in April are $530,000, and actory payroll cost in April is $380,000. Overhead costs incurred in April are: indirect materials, $56,000; indirect labor, $21,000; factory rent, $31,000; 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 $640,000 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 Required 4A Required 4B $ 31,000 24,000 12,000 Compute gross profit for April. 135,000 102,000 ? Finished (sold) Job 307 $ 42,000 19,000 9,500 Job 308 200,000 $100,000 154,000 103,000 ? ? In process Finished (unsold) 4-a. Compute gross profit for April. 4-b. Show how to present the inventories on the April 30 balance sheet. Complete this question by entering your answers in the tabs below.
Required information [The following information applies to the questions displayed below] Marcelino Co's March 31 inventory of raw materials is $80,000. Raw mnitcieis purciases in April are $530,000, and factory payroll cost in April is $380,000. Overhead costs incurred in April are: indirect materials, $56,000; indirect labor, $21,000; factory rent, $31,000; 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 $640,000 cash in April. Costs of the three jobs worked on in April follow. 4-a. Compute gross profit for Aprill, 4-b. Show how to present the inventories on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Compute gross profit for April
