Question: can someone help with these charts? ! Required information Problem 02-1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4 [The following

can someone help with these charts?  can someone help with these charts? ! Required information Problem 02-1A
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 $85,000. Raw materials purchases in April
are $520,000, and factory payroll cost in April is $384,000. Overhead costs

! Required information Problem 02-1A 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 $85,000. Raw materials purchases in April are $520,000, and factory payroll cost in April is $384,000. Overhead costs incurred in April are: indirect materials, $59,000; indirect labor, $27,000; factory rent, $36,000; factory utilities, $21,000; and factory equipment depreciation, $52,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $665,000 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 $ 26,000 $ 40,000 Direct labor 25,000 14,000 Applied overhead 12,500 7,000 Costs during April Direct materials 134,000 210,000 $105,000 Direct labor 102,000 151,000 104,000 Applied overhead 2 ? Finished Finished In Status on April 30 (sold) (unsold) process Problem 02-1A Part 1 Required: 1. Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from March 31). Job 306 Job 307 Job 308 April Total $ $ $ 26,000 25,000 12,500 40,000 14,000 7.000 66,000 39,000 19,500 From March Direct Materials Direct Labor Applied overhead Beginning goods in process For April Direct Materials Direct Labor Applied overhead Total costs added in April $ 0 134,000 102,000 210,000 151,000 105,000 104.000 449,000 357.000 0 236,000 361,000 209,000 806,000 Total costs (April 30) $ 0 Status on April 30 April 30 cost included in: Finished (sold) Cost of goods sold Finished (unsold) Finished goods inventory In process Work in process inventory Problem 02-1A Part 2 a. Materials purchases (on credit). b. Direct materials used in production. c. Direct labor paid and assigned to Work in Process Inventory. d. Indirect labor paid and assigned to Factory Overhead. e. Overhead costs applied to Work in Process Inventory. f. Actual overhead costs incurred, including indirect materials. (Factory rent and utilities are paid in cash.) g. Transfer of Jobs 306 and 307 to Finished Goods Inventory. h. Cost of goods sold for Job 306. i. Revenue from the sale of Job 306. j. Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. (The amount is not material.) 2. Prepare journal entries for the month of April to record the above transactions. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 13 Record the entry for Materials purchases (on credit). Problem 02-1A Part 3 3. Prepare a schedule of cost of goods manufactured. MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Direct materials used O Direct labor used Factory overhead applied Total manufacturing costs Add: Work in process March 31 Total cost of work in process Less: Work in process April 30 Cost of goods manufactured O $ 0 Problem 02-1A Part 4 4-a. Compute gross profit for April. 4-b. Show how to present the inventories on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Required 4A Required 4B Compute gross profit for April. Gross profit Regina Required 4B >

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