ment Saved Help Required information Problem 19-2A (Algo) Computing and recording job costs; preparing schedule of cost of manufactured LO P1, P2, P3, P4 [The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Job 306 Job 307 Job 308 $ 33,000 $ 39,000 24,000 22,000 14,000 13,000 145,000 89,000 ? Finished (sold) 230,000 160,000 ? $110,000 115,000 ? Finished (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $84,000. b. Raw materials purchases in April are $510,000, and total factory payroll cost in April is $373,000. c. Actual overhead costs incurred in April are indirect materials, $52,500; indirect labor, $25,500; factory rent.. $34,500; factory utilities, $21,500; and factory equipment depreciation, $53,500. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $645,000 cash in April. Problem 19-2A (Algo) Part 1 Book Required: 1. Determine the amount of overhead applied to each job in April. Print erences Direct labor Predetermined overhead rate Overhead applied 306 307 308 April Total $ 89,000 $ 160,000 $ 115,000 $ 364,000 Problem 19-2A (Algo) Part 2 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31). Job 306 Job 307 March Direct materials $ 33,000 $ 39,000 Direct labor 24,000 22,000 Overhead applied Work in process, beginning 14,000 13,000 Job 308 April Total $ 0 230,000 110,000 485,000 160,000 115,000 364,000 0 225,000 $ 849,000 0 April ces Direct materials Direct labor 145,000 89,000 Overhead applied Costs added in April 234,000 390,000 Total costs Status on April 30 Finished (sold) Finished (unsold) April 30 cost included in: In process Required information a. Materials purchases (on credit). b. Direct materials used. c. Direct labor used (and paid in cash) and assigned to Work in Process Inventory. d. Indirect materials used and assigned to Factory Overhead. e. Indirect labor used (and paid in cash) and assigned to Factory Overhead. f. Overhead costs applied to Work in Process Inventory. g. Actual other overhead costs incurred (Factory rent and utilities are paid in cash.) h. Transfer of Jobs 306 and 307 to Finished Goods Inventory. i. Cost of goods sold for Job 306. j. Revenue from the sale of Job 306 received in cash. k. Close underapplied or overapplied overhead to the Cost of Goods Sold account. 3. Prepare journal entries for the month of April to record the above transactions. View transaction list Journal entry worksheet < 1 3 4 5 6 7 8 11 Record the entry for material purchased on credit. Note: Enter debits before credits Transaction General Journal a. Debit 510,000 Credit Accounts payable 510,000 Record entry Clear entry View general journal Problem 19-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 [The following information applies to the questions displayed below.) Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 22,000 13,000 Job 306 Job 307 Job 308. $ 33,000 $ 39,000 24,000 14,000 145,000 230,000 $110,000 89,000 ? Finished (sold) 160,000 115,000 ? Finished (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $84,000. b. Raw materials purchases in April are $510,000, and total factory payroll cost in April is $373,000. c. Actual overhead costs incurred in April are indirect materials, $52,500; indirect labor, $25,500; factory rent, $34,500; factory utilities, $21,500; and factory equipment depreciation, $53,500. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $645,000 cash in April. Problem 19-2A (Algo) Part 4 4. Prepare a schedule of cost of goods manufactured for the month ended April 30. MARCO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs Total cost of work in process Cost of goods manufactured 0 0 $ 0 Required information Problem 19-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 [The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 22,000 13,000 Job 306 Job 307 Job 308 $ 33,000 $ 39,000 24,000 14,000 145,000 230,000 $110,000 89,000 ? Finished (sold) 160,000 115,000 ? Finished (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $84,000. b. Raw materials purchases in April are $510,000, and total factory payroll cost in April is $373,000. c. Actual overhead costs incurred in April are indirect materials, $52,500; indirect labor, $25,500; factory rent, $34,500; factory utilities, $21,500; and factory equipment depreciation, $53,500. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $645,000 cash in April. Problem 19-2A (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 5B Compute gross profit for April. Gross profit SA Req 5B > ok Req 5A Req 5B int rences Show how the three inventory accounts are reported on the April 30 balar Raw materials Work in process Finished goods Total inventories Inventories 6 $+ 0 < Req 5A Req