GL1501 - Based on Problem 15-1A Marcelino Company LO C2, P1, P2, P3, P4 Check my w 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, 523,000 factory rent $32,000; factory utilities $19.000and 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 38 529.000 20.000 10,000 $ 35,000 18,000 9.000 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 135,000 85,000 220,000 150,000 $100,000 105.000 Finished (sold) Finished (unsold) In process Complete this question by entering your answers in the tabs below. Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods fo Gross Profit Prey 1 oft !!! Next Saved Journal entry worksheet 3 c. Record direct labor paid and assigned to Work in Process Inventory d. Record indirect labor paid and assigned to Factory Overhead. 4 Credit 5 e. Record overhead costs applied to Work in Process Inventory 5 f1. Record the cost of indirect materials used. 7f2. Record the cost of factory utilities paid in cash. = journal entry has been entered Note: Record entry Clear entry Vierw general journal Prey 1 of 1 Next X 8 13. Record the depreciation on factory equipment. 13 > 9 f4. Record the cost of factory rent, paid in cash. / 10 g. Record the transfer of Jobs 306 and 307 to Finished Goods Inventory 11 h. Record the cost of goods sold for Job 306. Credit 12 1. Record the revenue from the cash sale of Job 306. 13 j. Record the assignment of any underapplied or overapplied overhead to the cost of Goods Sold account. (The amount is not material.) Note: = journal entry has been entered Record entry Clear entry View general Journal Prey 1 of 1 Next CH Dates Dates: Mar 31 v to! Apr 30 Job 306 Job 307 Job 308 April Total $ Beginning Work in Process (March costs) Direct materials Direct labor Applied overhead Total Beginning Work in Process inventory 29.000 $ 20.000 10,000 59,000 35,000 18,000 9.000 62.000 $ 121,000 $ Costs added in April Direct materials Direct labor Applied ead Total costs added in April 135,000 $ 85.000 220,000 150 000 100,000 105,000 455,000 340.000 Total cost of jobs At the end of April indicate which account should include each Job's costs Brey 1 of 1 !!! Next Check Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Prepare a schedule of cost of goods manufactured for Marcelino Company for the month of April. Dates: Mar 31 to: Apr 30 MARCELINO COMPANY Schedule of Cost of Goods Manutactured For Month Ended April 30 Total manufacturing costs added during April Total cost of work in process Job Costs Gross Profit > Prev 1 of 1 Next Complete this question by entering your answers in the tabs below. Requirement General Journal General Ledger Trial Balance Job Costs Cost of Goods Mfg Gross Profit Select the accounts used in the calculation of gross profit. Enter the amount of gross profit for Marcelino Company for the month of April Dates: Mar 31 to: Apr 30 Gross profit (Cost of Goods Mig Prey 1 of 1 Next