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$4$

$[$The following informotion opplies to the questions disployed below.$]$

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

Additional Information

a$.$ Row Materials Inventory has o March $31$ balance of $$86,800.$

b$.$ Raw materials purchases in April are $$517,000,$ and total foctory payroll cost in April is $$380,000.$

c$.$ Actual overhead costs incurred in April are indirect materials, $$54,250$; indirect labor, $$27,250$; foctory rent, $$36,250$;

foctory utilities, $$23,250$; and factory equipment depreciation, $$55,250.$

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

e$.$ Job $306$ is sold for $$652,000$ cosh in April.

Problem $19-2$A $($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.

Compute gross profit for April.