Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $560,000,
Question:
Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $365,000. Overhead costs incurred in April are: indirect materials, $54,000; indirect labor, $26,000; factory rent, $32,000; factory utilities, $21,000; and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $685,000 cash in April. Costs of the three jobs worked on in April follow. job 306 blances on march 31 direct materials 28000 direct labor 22000 applied overhead 11000 costs during april direct materials 133000 direct labor 102000 applied overhead ? job 307 43000, 16000, 8000, 205000, 151000, ?. Job 308 ?, ?, ?, 100000, 102000, ?
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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). | ||||||||||||||||||||||||||||||||
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Fundamental Accounting Principles
ISBN: 978-0077862275
22nd edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta