Question: Please help with this Managerial Accounting question. Thank you. Required information {The faiiowing information applies ta the questions dismayed bel'cwzj Marcelino Co.'s March 31 inventory

Please help with this Managerial Accounting question. Thank you.


Required information {The faiiowing information applies ta the questions dismayed bel'cwzj Marcelino Co.'s March 31 inventory of raw materials is $90,000. Raw materials purchases in April are $570,000, and factory payroll cost in April is $381,000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $22,000: factory rent, $34,000: factory utilities, $21,000; and factory equipment depreciation, $59,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $640,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 30? Job 300 Balances on March 31 Direct materials $ 26,000 $ 01,000 Direct labor 23,000 10,000 Applied overhead 11,500 9,000 Costs during April Direct materials 132,000 210,000 $115,000 Direct labor 104,000 152,000 103,000 Applied overhead ? ? ? Finished Finished In Status on April 30 {sold} {unsold} process 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 eachjob [including the balances from March 31]. From March Direct Materials 35 67,000 Direct Labor 41.000 Applied overhead 20,500 Beginning goods in process 5; 0 For April Direct Materials 132,000 210,000 115,000 45?,000 Direct Labcr 104,000 152,000 103,000 359,000 Applied overhead 0 Total costs added in April 236,000 362,000 210,000 816,000 Total costs {April 30) $ 0 Status on April 30 Finished (sold) Finished (unsold) April 30 cost included in
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
