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Marcelino Co.'s March 31 inventory of raw materials is $86,000. Raw materials purchases in April...

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Accounting

Marcelino Co.'s March 31 inventory of raw materials is $86,000. Raw materials purchases in April are $510,000, and factory payroll cost in April is $380,000. Overhead costs incurred in April are: indirect materials, $59,000; indirect labor, $24,000; factory rent, $31,000; factory utilities, $23,000; and factory equipment depreciation, $59,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $665,000 cash in April. Costs of the three jobs worked on in April follow. Prepare a schedule of cost of goods manufactured.

Job 306 Job 307 Job 308
Balances on March 31
Direct materials $ 29,000 $ 43,000
Direct labor 24,000 13,000
Applied overhead 12,000 6,500
Costs during April
Direct materials 134,000 210,000 $ 110,000
Direct labor 101,000 153,000 102,000
Applied overhead ? ? ?
Status on April 30 Finished (sold) Finished (unsold) In process

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