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

Problem 2-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 [The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Adeditlonel Informetlon a. Raw Materials Inventory has a March 31 balance of $88.000. b. Raw materials purchases in April are $590,000, and total factory payroll cost in April is $377,000. c. Actual overhead costs incurred in April are indirect materials, $56,000; indirect labor, $22,000; factory rent, $35,000 : factory utilities, $19.000; and factory equipment depreciation, $54,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $655,000 cash in April. Requlred: 1. Determine the amount of overhead applied to each job in April. Problem 2-2A (Algo) Part 2 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31). a. Materisls purchases (on credit;. b. Direct materiels used. c. Direct labor used (snd poid in cash) snd assigned to Wark in Process Inventary. d. Indirect material used and saigned to Fsctory Overhesd. e. Indirect labor used (and peid In cesh) and saigned to Factory Overhesd. f. Overhesd coat: appled to Work in Procesz lnventory. 9. Actus other overnesd coats incurred (Factory rent snd uti tes are poid in cash.] h. Tranafer of Jobs 306 and 307 to Finlahed Goods Inventary. L. Cost of goods ald for Job 306 . J. Revenue from the sale of Job 306 recelved in cosh. k. Close underspalied or overspalied overhead to the Coat of Goods Sold eccount. 3. Prepse joumsl entries for the manth of Aprl to record the above trenssctions. Journal entry worksheet 4. Prepare a schedule of cost of goods manufactured for the month end April 30 . 5-e. 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. 5-e. 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. Show how the three inventory accounts are reported on the April 30 balance sheet. Problem 2-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 [The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Adeditlonel Informetlon a. Raw Materials Inventory has a March 31 balance of $88.000. b. Raw materials purchases in April are $590,000, and total factory payroll cost in April is $377,000. c. Actual overhead costs incurred in April are indirect materials, $56,000; indirect labor, $22,000; factory rent, $35,000 : factory utilities, $19.000; and factory equipment depreciation, $54,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $655,000 cash in April. Requlred: 1. Determine the amount of overhead applied to each job in April. Problem 2-2A (Algo) Part 2 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31). a. Materisls purchases (on credit;. b. Direct materiels used. c. Direct labor used (snd poid in cash) snd assigned to Wark in Process Inventary. d. Indirect material used and saigned to Fsctory Overhesd. e. Indirect labor used (and peid In cesh) and saigned to Factory Overhesd. f. Overhesd coat: appled to Work in Procesz lnventory. 9. Actus other overnesd coats incurred (Factory rent snd uti tes are poid in cash.] h. Tranafer of Jobs 306 and 307 to Finlahed Goods Inventary. L. Cost of goods ald for Job 306 . J. Revenue from the sale of Job 306 recelved in cosh. k. Close underspalied or overspalied overhead to the Coat of Goods Sold eccount. 3. Prepse joumsl entries for the manth of Aprl to record the above trenssctions. Journal entry worksheet 4. Prepare a schedule of cost of goods manufactured for the month end April 30 . 5-e. 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. 5-e. 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. Show how the three inventory accounts are reported on the April 30 balance sheet