Problem 2-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4

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[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 (in March)	$ 31,000	$ 37,000
Direct labor used (in March)	23,000	18,000
Overhead applied (March)	11,500	9,000
Costs during April
Direct materials used	131,000	210,000	$ 115,000
Direct labor used	102,000	155,000	102,000
Overhead applied	?	?	?
Status on April 30	Finished (sold)	Finished (unsold)	In process

Additional Information

1. Raw Materials Inventory has a March 31 balance of $87,000.
2. Raw materials purchases in April are $580,000, and total factory payroll cost in April is $386,000.
3. Actual overhead costs incurred in April are indirect materials, $55,000; indirect labor, $27,000; factory rent, $33,000; factory utilities, $24,000; and factory equipment depreciation, $57,000.
4. Predetermined overhead rate is 50% of direct labor cost.
5. Job 306 is sold for $695,000 cash in April.

	306	307	308	April Total
Direct labor				$0
Predetermined overhead rate	0.50	0.50	0.50	0.50
Overhead applied