Required information 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. Job 306 Job 387 Job 308 Balances on March 31 Direct materials used in March) $ 27,000 $ 37,000 Direct labor used (in March) 22,000 17,000 Overhead applied (March) 11,000 8,500 Costs during April Direct materials used 137,000 200,000 $ 115,000 Direct labor used 102,000 151,000 101,000 Overhead applied 7 Status on April 30 Finished Finished (sold) (unsold) In process 7 Additional Information a. Raw Materials Inventory has a March 31 balance of $84,000. b. Raw materials purchases in April are $540,000, and total factory payroll cost in April is $381,000. c. Actual overhead costs incurred in April are indirect materials, $57,000, indirect labor. $27,000; factory rent. $40,000; factory utilities, $20,000, and factory equipment depreciation. $60,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $640,000 cash in April. Problem 2-2A (Algo) Part 4 4. Prepare a schedule of cost of goods manufactured for the month end April 30 MARCO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs Total cost of work in process Cost of goods manufactured Required information 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 Job 306 Job 307 Job 308 $ 27,000 22,000 11,000 $ 37,000 17,000 8,500 Balances on March 31 Direct materials used in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 137,000 102,000 200,000 $ 115,000 151,800 101,00 ? Finished (unsold) In process Finished (sold) Additional Information a. Raw Materials Inventory has a March 31 balance of $84,000. b. Raw materials purchases in April are $540,000, and total factory payroll cost in April is $381,000. c. Actual overhead costs incurred in April are indirect materials, $57,000; indirect labor, $27.000; factory rent, $40,000, factory utilities, $20,000; and factory equipment depreciation, $60,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $640,000 cash in April. Problem 2-2A (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 5A Reg 5B Compute gross profit for April Gross profit SA Reg 58 > Required information 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 Aprit. Job 386 Job 307 Job 308 Balances on March 31 Direct materials used in March) $ 27,000 $ 37,000 Direct labor used (in March) 22,000 17,000 Overhead applied (March) 11,000 8,500 Costs during April Direct materials used 137,000 200,000 $ 115,000 Direct labor used 102,000 151,000 101,000 Overhead applied Status on April 30 Finished Finished (sold) In process (unsold) 7 Additional Information a. Raw Materials Inventory has a March 31 balance of $84,000. b. Raw materials purchases in April are $540,000, and total factory payroll cost in April is $381,000 c. Actual overhead costs incurred in April are indirect materials, $57,000; Indirect labor, $27,000; factory rent, $40,000, factory utilities, $20,000, and factory equipment depreciation, $60,000 d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $640,000 cash in April Problem 2-2A (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. Reg SA Reg 58 Show how the three inventory accounts are reported on the April 30 balance sheet. Inventories Raw materials Work in process Finished goods Total Inventorios