Requlred Informatlon [The following information applies to the questions displayed below.] Marcelino Co's March 31 inventory of raw materials is $80.000. Raw materials purchases in April are $500,000, and factory payroll cost in April is $363.000. Overhead costs incurred in April are: indirect materials, $50,000; indirect labor, $23.000; factory rent, $32.000: factory utilities, $19,000: and factory equipment depreciation, $51.000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635.000 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 $ 29,000 $ 35,000 Direct labor 20,000 18,000 Applied 9,000 10,000 overhead Costs during April Direct 220,000 $100,000 135,000 materials Direct labor 150,000 85,000 105,000 Applied overhead Finished (unsold) Status on April Finished (sold) In 30 process April Total Job 306 Job 307 Job 308 From March 35,000 Direct Materials 29,000 64,000 Direct Labor 20,000 18,000 38,000 10,000 Applied overhead 9,000 19,000 Beginning goods in process $ 121,000 59,000 82,000 For April 220,000 Direct Materisls 135,000 100,000 455,000 150,000 105.000 Direct Labor 85,000 340,000 Applied overhead 52,500 42,500 75,000 170,000 445,000 Total costs added in April 282,500 257,500 965,000 Total costs (April 30) 257,500 321,500 507,000 1,088,000 Finished (sold) Finished (unsold) Status on April 30 In process Cost of goods sold Finished goods inventory Work in process inventory April 30 cost included in:
Requlred Informatlon [The following information applies to the questions displayed below.] Marcelino Co's March 31 inventory of raw materials is $80.000. Raw materials purchases in April are $500,000, and factory payroll cost in April is $363.000. Overhead costs incurred in April are: indirect materials, $50,000; indirect labor, $23.000; factory rent, $32.000: factory utilities, $19,000: and factory equipment depreciation, $51.000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635.000 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 $ 29,000 $ 35,000 Direct labor 20,000 18,000 Applied 9,000 10,000 overhead Costs during April Direct 220,000 $100,000 135,000 materials Direct labor 150,000 85,000 105,000 Applied overhead Finished (unsold) Status on April Finished (sold) In 30 process April Total Job 306 Job 307 Job 308 From March 35,000 Direct Materials 29,000 64,000 Direct Labor 20,000 18,000 38,000 10,000 Applied overhead 9,000 19,000 Beginning goods in process $ 121,000 59,000 82,000 For April 220,000 Direct Materisls 135,000 100,000 455,000 150,000 105.000 Direct Labor 85,000 340,000 Applied overhead 52,500 42,500 75,000 170,000 445,000 Total costs added in April 282,500 257,500 965,000 Total costs (April 30) 257,500 321,500 507,000 1,088,000 Finished (sold) Finished (unsold) Status on April 30 In process Cost of goods sold Finished goods inventory Work in process inventory April 30 cost included in:
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...
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