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Required Information [The following information applles to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Additional Information a. Raw Materlals Inventory has a March 31 balance of $88,000. b. Raw materlals purchases in Aprll are $520,000, and total factory payroll cost in Aprll is $383,000. c. Actual overhead costs Incurred In Aprll are Indirect materlals, $55,000; Indirect labor, $28,000; factory rent, $37,000; factory utilitles, $24,000; and factory equipment depreclation, $56,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $655,000 cash in April. Required: 1. Determine the amount of overhead applied to each job in Aprll. Required Information [The following information applles to the questions displayed below.] Marco Company shows the following costs for three jobs worked on In April. Addlitional Information a. Raw Materlals Inventory has a March 31 balance of $88,000. b. Raw materlals purchases in Aprll are $520,000, and total factory payroll cost in Aprll is $383,000. c. Actual overhead costs incurred In Aprll are Indirect materlals, $55,000; Indirect labor, $28,000; factory rent, $37,000; factory utillitles, $24,000; and factory equipment depreclation, $56,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $655,000 cash in April. 2. DetermIne the total cost assigned to each Job as of Aprll 30 (Including the balances from March 31 ). Required Information [The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on In Aprll. Additional Information a. Raw Materlals Inventory has a March 31 balance of $88,000. b. Raw materlals purchases in April are $520,000, and total factory payroll cost in Aprll is $383,000. c. Actual overhead costs Incurred in Aprll are Indirect materlals, $55,000; Indirect labor, $28,000; factory rent, $37,000; factory utilities, $24,000; and factory equipment depreclation, $56,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $655,000 cash in Aprll. a. Materlals purchases (on credit). b. Direct materlals used. c. Direct labor used (and pald in cash) and assigned to Work in Process Inventory. d. Indirect materlals used and assigned to Factory Overhead. e. Indirect labor used (and paid in cash) and assigned to Factory Overhead. f. Overhead costs applied to Work In Process Inventory. g. Actual other overhead costs Incurred (Factory rent and utillties are paid in cash.) h. Transfer of Jobs 306 and 307 to Finished Goods Inventory. I. Cost of goods sold for Job 306 . J. Revenue from the sale of Job 306 recelved in cash. k. Close underapplied or overapplied overhead to the Cost of Goods Sold account. 3. Prepare journal entrles for the month of Aprll to record the above transactions. Journal entry worksheet 4. Prepare a schedule of cost of goods manufactured for the month ended April 30 . 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Compute gross profit for April. 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Show how the three inventory accounts are reported on the April 30 balance sheet

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