Problem $2-2$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.Job $306$ Job $307$ Job $308$Balances on March $31$Direct materials used $($inMarch$)$$ $35,800$ $ $41,800$Direct labor used $($in March$)26,80024,800$Overhead applied $($March$)16,80015,800$Costs during April$Direct materials used$152,000237,000117,000$Direct labor used$91,800167,000$Overhead applied??$122,000$Status on April $30$Finished Finished $($sold$)($unsold$)$ processInAdditional Informationa. Raw Materials Inventory has a March $31$ balance of $$86,800.$b$.$ Raw materials purchases in April are $$517,000,$ and total factory payroll cost in April is $$380,000.$c$.$ Actual overhead costs incurred in April are indirect materials, $$54,250$; indirect labor, $$27,250$; factory rent, $$36,250$; factory utilities, $$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$ cash in April.

$$quirea:

Determine the amount of overhead applied to each job in April.

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Becord the entry for material perchased an credit.

Record the direct materials used in profiction.

Record the direct laber $($paid in cash$).$

Hecord the indirect laber $($paid in cash$).$

Recoed the application of owerhead costs.

Record the actual other overheas costs incurred $($Factory rent and ueilltes are pail is cash.

Wote: tester debts belowe oredts

Recard the antry to dose indarappled or overapplied overhead to the Cock of Goods Sold accounk.

Hite: Enter debts belore uredes.

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Hecord the transler of Jobe $306$ and $307$ to Finished Goods Invemtory.

fecard the revenve from the sale of $3$ob $306$ received in cash.

Show how the three inventory accounts are reported on the April $30$ balance sheet.

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