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Ciolino Co.'s March 31 inventory of raw materials is $100,000. Raw materials purchases in April...

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Accounting

Ciolino Co.'s March 31 inventory of raw materials is $100,000. Raw materials purchases in April are $500,000, and factory payroll cost in April is $229,000. Overhead costs incurred in April are: indirect materials, $32,000; indirect labor, $12,000; factory rent, $21,000; factory utilities, $11,000; and factory equipment depreciation, $47,950. The predetermined overhead rate is 55% of direct labor cost. Job 306 is sold for $390,000 cash in April. Costs of the three jobs worked on in April follow.

Job 306 Job 307 Job 308
Balances on March 31
Direct materials $ 15,000 $ 16,000
Direct labor 16,000 6,000
Applied overhead 8,800 3,300
Costs during April
Direct materials 75,000 180,000 $ 75,000
Direct labor 41,000 66,000 110,000
Applied overhead ? ? ?
Status on April 30 Finished (sold) Finished (unsold) In process

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