Required information Problem 19-1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4 Skip to question [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $540,000, and factory payroll cost in April is $382,000. Overhead costs incurred in April are: indirect materials, $56,000; indirect labor, $25,000; factory rent, $31,000; factory utilities, $23,000; and factory equipment depreciation, $52,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $630,000 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 $ 32,000 $ 37,000 Direct labor 25,000 16,000 Applied overhead 12,500 8,000 Costs during April Direct materials 138,000 215,000 $ 105,000 Direct labor 104,000 151,000 102,000 Applied overhead ? ? ? Status on April 30 Finished (sold) Finished (unsold) In process
Required information Problem 19-1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4 Skip to question [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $540,000, and factory payroll cost in April is $382,000. Overhead costs incurred in April are: indirect materials, $56,000; indirect labor, $25,000; factory rent, $31,000; factory utilities, $23,000; and factory equipment depreciation, $52,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $630,000 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 $ 32,000 $ 37,000 Direct labor 25,000 16,000 Applied overhead 12,500 8,000 Costs during April Direct materials 138,000 215,000 $ 105,000 Direct labor 104,000 151,000 102,000 Applied overhead ? ? ? Status on April 30 Finished (sold) Finished (unsold) In process
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter5: Accounting For Merchandising Businesses
Section: Chapter Questions
Problem 5.26EX
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Problem 19-1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4
Skip to question
[The following information applies to the questions displayed below.]
Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $540,000, and
Job 306 | Job 307 | Job 308 | ||||||||||
Balances on March 31 | ||||||||||||
Direct materials | $ | 32,000 | $ | 37,000 | ||||||||
Direct labor | 25,000 | 16,000 | ||||||||||
Applied overhead | 12,500 | 8,000 | ||||||||||
Costs during April | ||||||||||||
Direct materials | 138,000 | 215,000 | $ | 105,000 | ||||||||
Direct labor | 104,000 | 151,000 | 102,000 | |||||||||
Applied overhead | ? | ? | ? | |||||||||
Status on April 30 | Finished (sold) | Finished (unsold) | In process | |||||||||
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