Problem $19-2$A $($Algo$)$ Computing and recording job costs;

preparing schedule of cost of goods manufactured LO P$1,$ P$2,$ P$3,$

P$4$Skip to question$[$The following information applies to the questions

displayed below.$]$

$$

Marco Company shows the following costs for three jobs worked on in

April.

$$Additional Information$$Problem $19-2$A $($Algo$)$ Part $1$Required:

$1.$Determine the amount of overhead applied

to each job in April.Problem $19-2$A $($Algo$)$ Part $22.$Determine the total cost assigned to

each job as of April $30($including the balances from March $31).$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.

$4.$Prepare a schedule of cost of goods

manufactured for the month end April $30.$

$$Problem $19-2$A $($Algo$)$ Part $55-$a$.$Compute gross profit for April.

$5-$b$.$Show how the three inventory accounts

are reported on the April $30$ balance sheet. Required information

Problem $15-2$A $($Algo$)$ Computing and recording job costs; preparing schedule of cost of goods

manufactured LO P$1,$ P$2,$ P$3,$ P$4$

$[$The following information applies to the questions displayed below.$]$

Marco Company shows the following costs for three jobs worked on in April.

Additional Information

a$.$ Raw Materials Inventory has a March $31$ balance of $$83,600.$

b$.$ Raw materials purchases in April are $$509,000,$ and total factory payroll cost in April is $$372,000.$

c$.$ Actual overhead costs incurred in April are indirect materials, $$52,250$; indirect labor, $$25,250$; factory rent,

$$34,250$; factory utilities, $$21,250$; and factory equipment depreciation, $$53,250.$

d$.$ Predetermined overhead rate is $50\%$ of direct labor cost.

e$.$ Job $306$ is sold for $$644,000$ cash in April. Problem $15-2$A $($Algo$)$ Part $3$

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. Prepare journal entries for the month of April to record the above transactions.

Answer is not complete. $\backslash$table$[[5,$e$.,$Factory overhead,$(>),25,250,],[,,$Cash,$2,,25,250],[6,$f$.,$Work in process inventory,$(2),180,800,],[,,$Factory overhead,$(2),,180,800],[7,$g$.,$Factory overhead,$(2),55,500\backslash$times $,],[,,$Cash,$(2),,55,500],[8,$h$.,$Finished goods inventory,$(2),744,400\backslash$times $,],[,,$Work in process inventory,$(2),,744,400\backslash$times $],[9,$i$.,$Cost of goods sold,$(>),276,900\backslash$times $,],[,,$Finished goods inventory,$(>),,276,900\backslash$times $],[10,$j$.,$Cash,$(2),644,000,],[,,$Sales,$(2),,644,000],[11,$k$.,$Cost of goods sold,$(2),5,200\backslash$times $,],[,,$Factory overhead,$(2),,5,200\backslash$times $]]$