Marco Company shows the following costs for three jobs worked on in April. Job 306 Job...
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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) $ 33,800 $ 39,800 Direct labor used (in March) 24,800 22,800 Overhead applied (March) 14,800 13,800 Costs during April Direct materials used 147,000 232,000 $112,000 Direct labor used Overhead applied 89,800 ? Status on April 30 Finished (sold) 162,000 117,000 ? ? Finished (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $84,800. b. Raw materials purchases in April are $512,000, and total factory payroll cost in April is $375,000. c. Actual overhead costs incurred in April are indirect materials, $53,000; indirect labor, $26,000; factory rent. $35,000; factory utilities, $22,000; and factory equipment depreciation, $54,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $647,000 cash in April. Additional Information a. Raw Materials Inventory has a March 31 balance of $84,800. b. Raw materials purchases in April are $512,000, and total factory payroll cost in April is $375,000. c. Actual overhead costs incurred in April are indirect materials, $53,000; indirect labor, $26,000; factory rent, $35,000; factory utilities, $22,000; and factory equipment depreciation, $54,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $647,000 cash in April. Problem 15-2A (Algo) Part 5 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Req SA Req 58 Compute gross profit for April. Gross profit Req 6A Req 58 Additional Information a. Raw Materials Inventory has a March 31 balance of $84,800. b. Raw materials purchases in April are $512,000, and total factory payroll cost in April is $375,000. c. Actual overhead costs incurred in April are indirect materials, $53,000; indirect labor, $26,000; factory rent, $35,000; factory utilities, $22,000; and factory equipment depreciation, $54,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $647,000 cash in April. Problem 15-2A (Algo) Part 5 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Req 5A Req 58 Show how the three inventory accounts are reported on the April 30 balance sheet. Raw materials Work in process Finished goods Total inventories Inventories 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) $ 33,800 $ 39,800 Direct labor used (in March) 24,800 22,800 Overhead applied (March) 14,800 13,800 Costs during April Direct materials used 147,000 232,000 $112,000 Direct labor used Overhead applied 89,800 ? Status on April 30 Finished (sold) 162,000 117,000 ? ? Finished (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $84,800. b. Raw materials purchases in April are $512,000, and total factory payroll cost in April is $375,000. c. Actual overhead costs incurred in April are indirect materials, $53,000; indirect labor, $26,000; factory rent. $35,000; factory utilities, $22,000; and factory equipment depreciation, $54,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $647,000 cash in April. Additional Information a. Raw Materials Inventory has a March 31 balance of $84,800. b. Raw materials purchases in April are $512,000, and total factory payroll cost in April is $375,000. c. Actual overhead costs incurred in April are indirect materials, $53,000; indirect labor, $26,000; factory rent, $35,000; factory utilities, $22,000; and factory equipment depreciation, $54,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $647,000 cash in April. Problem 15-2A (Algo) Part 5 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Req SA Req 58 Compute gross profit for April. Gross profit Req 6A Req 58 Additional Information a. Raw Materials Inventory has a March 31 balance of $84,800. b. Raw materials purchases in April are $512,000, and total factory payroll cost in April is $375,000. c. Actual overhead costs incurred in April are indirect materials, $53,000; indirect labor, $26,000; factory rent, $35,000; factory utilities, $22,000; and factory equipment depreciation, $54,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $647,000 cash in April. Problem 15-2A (Algo) Part 5 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Req 5A Req 58 Show how the three inventory accounts are reported on the April 30 balance sheet. Raw materials Work in process Finished goods Total inventories Inventories
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5 Gross Profit for April Solution Calculate Total Manufacturing Costs Direct materials used April 147000 232000 379000 Direct labor used April 89800 1... View the full answer
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