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[The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $386,000. Overhead costs incurred in April are: indirect materials, $51,000; indirect labor, $27,000; factory rent, $31,000; factory utilities, $25,000; and factory equipment depreciation, $51,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $660,000 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 Direct labor Applied overhead Costs during April $ 29,000 23,000 11,500 $ 45,000 15,000 7,500 138,000 210,000 $115,000 Direct materials Direct labor 152,000 104,000 103,000 ? Applied overhead ? ? Finished In Status on April 30 Finished (sold) (unsold) process

[The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $386,000. Overhead costs incurred in April are: indirect materials, $51,000; indirect labor, $27,000; factory rent, $31,000; factory utilities, $25,000; and factory equipment depreciation, $51,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $660,000 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 Direct labor Applied overhead Costs during April $ 29,000 23,000 11,500 $ 45,000 15,000 7,500 138,000 210,000 $115,000 Direct materials Direct labor 152,000 104,000 103,000 ? Applied overhead ? ? Finished In Status on April 30 Finished (sold) (unsold) process

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter26: Manufacturing Accounting: The Job Order Cost System
Section: Chapter Questions
Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...
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Required information Problem 15-1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4 [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $386,000. Overhead costs incurred in April are: indirect materials, $51,000; indirect labor, $27,000; factory rent, $31,000; factory utilities, $25,000; and factory equipment depreciation, $51,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $660,000 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. Direct labor $ 45,000 $ 29,000 23,000 11,500 15,000 7,500 Applied overhead Costs during April Direct materials Direct labor Applied overhead 210,000 $115,000 138,000 103,000 152,000 104,000 ? ? ? Finished (sold) Finished In (unsold) process Problem 15-1A Part 3 3. Prepare a schedule of cost of goods manufactured. MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Status on April 30 Total manufacturing costs Total cost of work in process Cost of goods manufactured $ 0 0 0
Transcribed Image Text:Required information Problem 15-1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4 [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $386,000. Overhead costs incurred in April are: indirect materials, $51,000; indirect labor, $27,000; factory rent, $31,000; factory utilities, $25,000; and factory equipment depreciation, $51,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $660,000 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. Direct labor $ 45,000 $ 29,000 23,000 11,500 15,000 7,500 Applied overhead Costs during April Direct materials Direct labor Applied overhead 210,000 $115,000 138,000 103,000 152,000 104,000 ? ? ? Finished (sold) Finished In (unsold) process Problem 15-1A Part 3 3. Prepare a schedule of cost of goods manufactured. MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Status on April 30 Total manufacturing costs Total cost of work in process Cost of goods manufactured $ 0 0 0
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