Marco Company shows the following costs for three jobs worked on in April. Job 306 Job 307
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Question:
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) | $ 28,000 | $ 38,000 | |
Direct labor used (in March) | 22,000 | 18,000 | |
Overhead applied (March) | 11,000 | 9,000 | |
Costs during April | |||
Direct materials used | 139,000 | 205,000 | $ 105,000 |
Direct labor used | 102,000 | 151,000 | 102,000 |
Overhead applied | ? | ? | ? |
Status on April 30 | Finished (sold) | Finished (unsold) | In process |
Additional Information
Raw Materials Inventory has a March 31 balance of $85,000.
Raw materials purchases in April are $590,000, and total factory payroll cost in April is $383,000.
Actual overhead costs incurred in April are indirect materials, $54,000; indirect labor, $28,000; factory rent, $31,000; factory utilities, $22,000; and factory equipment depreciation, $53,000.
Predetermined overhead rate is 50% of direct labor cost.
Job 306 is sold for $630,000 cash in April.
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