80.2K

Verified Solution

Link Copied!

! Required Information [The following information applies to the questions displayed below! 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) $ 27,000 $ 38,000 Direct labor used in March) 23,000 18,000 Overhead applied (March) 11,500 9.000 Costs during April Direct materials used 132,000 210,000 $100,000 Direct labor used 104,000 151.000 105,000 Overhead applied 2 2 Finished Finished Status on April 30 In process (sold) (unsold) ? Additional Information a. Raw Materials Inventory has a March 31 balance of $84,000. b. Raw materials purchases in April are $600,000, and total factory payroll cost in April is $388,000 c. Actual overhead costs incurred in April are indirect materials, $59.000; indirect labor $28.000; factory rent, $33.000: factory utilities, $23,000; and factory equipment depreciation, $56,000 d. Predetermined overhead rate is 50% of direct labor cost e. Job 306 is sold for $640,000 cash in April Required information Job 306 Job 307 Job 308 April Total $ 27,000 23,000 11,500 38.000 18.000 9,000 0 March Direct matenatis Direct labor Overhead applied Work in process beginning April Direct materials Direct labor Overhead applied Costs added in April Total costs Status on April 30 April 30 cost included in 132.000 104,000 210,000 151,000 100.000 105.000 442,000 360,000 0 236,000 361,000 205,000 802.000 0 $ Finished (sold) Finished (unsold) In process

Answer & Explanation Solved by verified expert

See Answer