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Required information

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 information applies to the questlons displayed below.$]$

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

$\backslash$table$[[,$Job $396,$Job $307,$Job $308],[$Balances on March $31,,,],[$Direct materials used $($in March$),$$$32,200,$$ $38,200,],[$Direct labor used $($in March$),23,200,21,200,],[$Overhead applied $($March$),13,200,12,200,],[$Costs during April,,,$],[$Direct materials used,$143,000,228,600,$$ $108,000],[$Direct labor used,$88,200,158,600,113,000],[$Overhead applied,?,?,,$],[$Status on April $110,$Finished $($sold$),\backslash$table$[[$Finished$],[($unsold$)]],$In process$]]$

Additional Information

a$.$ Raw Materlals Inventory has a March $31$ balance of $$83,200.$

b$.$ Raw materlals purchases in April are $$508,000,$ and total factory payroll cost in April is $$371,000.$

c$.$ Actual overhead costs incurred in April are Indirect materials, $$52,000$; indirect labor. $$25,000$; factory rent, $$34,000$; factory utilities, $$21,000$; and factory equlpment depreclation, $$53,000.$

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

e$.$ Job $306$ is sold for $$643\mathrm{.}000$ cash in April$|$

Problem $19-2$A $($Algo$)$ Part $3$

a$.$ Materlals purchases $($on credit$).$

b$.$ Direct materlals used.

c$.$ Direct labor used $($and paId in cash$)$ and assigned to Work in Process Inventory.

d$.$ Indirect materlals 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 utilitles are pald in cash.$)$

h$.$ Transfer of Jobs $306$ and $307$ to Finished Goods Inventory.

Cost of goods sold for Job $306.$

J$.$ Revenue from the sale of Job $306$ recelved 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.

Journal entry worksheet