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Marco Company shows the following costs for three jobs worked on in April.

	Job 306	Job 307	Job 308
Balances on March 31
Direct materials used (in March)	$ 31,400	$ 37,400
Direct labor used (in March)	22,400	20,400
Overhead applied (March)	12,400	11,400
Costs during April
Direct materials used	141,000	226,000	$ 106,000
Direct labor used	87,400	156,000	111,000
Overhead applied	?question mark	?question mark	?question mark
Status on April 30	Finished (sold)	Finished (unsold)	In process

Additional Information

1. Raw Materials Inventory has a March 31 balance of $82,400.
2. Raw materials purchases in April are $506,000, and total factory payroll cost in April is $369,000.
3. Actual overhead costs incurred in April are indirect materials, $51,500; indirect labor, $24,500; factory rent, $33,500; factory utilities, $20,500; and factory equipment depreciation, $52,500.
4. Predetermined overhead rate is 50% of direct labor cost.
5. Job 306 is sold for $641,000 cash in April.

1. Materials purchases (on credit).
2. Direct materials used.
3. Direct labor used (and paid in cash) and assigned to Work in Process Inventory.
4. Indirect materials used and assigned to Factory Overhead.
5. Indirect labor used (and paid in cash) and assigned to Factory Overhead.
6. Overhead costs applied to Work in Process Inventory.
7. Actual other overhead costs incurred (Factory rent and utilities are paid in cash.)
8. Transfer of Jobs 306 and 307 to Finished Goods Inventory.
9. Cost of goods sold for Job 306.
10. Revenue from the sale of Job 306 received in cash.
11. Close underapplied or overapplied overhead to the Cost of Goods Sold account.

3. Prepare journal entries for the month of April to record the above transactions.

ournal entry worksheet

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• Record the entry for material purchased on credit.

Note: Enter debits before credits.

	Transaction General Journal Debit Credit a.