Required information Problem 15-2A (Static) 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. Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Direct materials used Costs during April Direct labor used Overhead applied Status on April 30 Additional Information Job 306 Job 307 Job 308 $ 29,000 20,000 10,000 $ 35,000 18,000 9,000 135,000 85,000 ? Finished (sold) 220,000 $ 100,000 150,000 105,000 ? ? Finished (unsold) In process a. Raw Materials Inventory has a March 31 balance of $80,000. b. Raw materials purchases in April are $500,000, and total factory payroll cost in April is $363,000. c. Actual overhead costs incurred in April are indirect materials, $50,000; indirect labor, $23,000; factory rent, $32,000; factory utilities, $19,000; and factory equipment depreciation, $51,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $635,000 cash in April. Problem 15-2A (Static) Part 1 Required: 1. Determine the amount of overhead applied to each job in April. Direct labor Predetermined overhead rate Overhead applied 306 0.50 307 0.50 308 $ 0.50 April Total 0 0.50