Required information

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.

Additional Information

a$.$ Raw Materials Inventory has a March $31$ balance of $\backslash$$$85,200.$

b$.$ Raw materials purchases in April are $\backslash (\backslash$$ $513,000\backslash ),$ and total factory payroll cost in April is $\backslash (\backslash$$ $376,000\backslash ).$

c$.$ Actual overhead costs incurred in April are indirect materials, $\backslash (\backslash$$ $53,250\backslash )$; indirect labor, $\backslash (\backslash$$ $26,250\backslash )$; factory rent, $\backslash (\backslash$$ $35,250\backslash )$; factory utilities, $\backslash (\backslash$$ $22,250\backslash )$; and factory equipment depreciation, $\backslash$$$54,250.$

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

e$.$ Job $306$ is sold for $\backslash$$$648,000$ cash in April.

Problem $2-2$A $($Algo$)$ Part $5$

$5-$a$.$ 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.

Req $5$A

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

Required information

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.

Additional Information

a$.$ Raw Materials Inventory has a March $31$ balance of $\backslash$$$85,200.$

b$.$ Raw materials purchases in April are $\backslash$$$513,000,$ and total factory payroll cost in April is $\backslash$$$376,000.$

c$.$ Actual overhead costs incurred in April are indirect materials, $\backslash$$$53,250$; indirect labor, $\backslash$$$26,250$; factory rent, $\backslash$$$35,250$; factory utilities, $\backslash$$$22,250$; and factory equipment depreciation, $\backslash$$$54,250.$

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

e$.$ Job $306$ is sold for $\backslash$$$648,000$ cash in April.

Problem $2-2$A $($Algo$)$ Part $5$

$5-$a$.$ 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.