- Required Information The Following Information Applies To The Questions Displayed Below Marcelino Co S March 31 Inven 1 (46.79 KiB) Viewed 54 times
- Required Information The Following Information Applies To The Questions Displayed Below Marcelino Co S March 31 Inven 2 (33.59 KiB) Viewed 54 times
Required information [The following information applies to the questions displayed below.] Marcelino Co's March 31 inventory of raw materials is $80,000. Raw materials purchases in April are $500,000, and factory payroll cost in April is $363,000. 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. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $ 35,000 $ 29,000 20,000 10,000 18,000 9,000 Balances on March 31 Direct materials. Direct labor Applied overhead Costs during April Direct materials. Direct labor Applied overhead 135,000 220,000 $100,000 85,000 150,000 105,000 2 Finished Finished Status on April 30 In process (sold) (unsold) 4-a. Compute gross profit for April. 4-b. Show how to present the inventories on the April 30 balance sheet. Complete this
question by entering your answers in the tabs below. Required 4A Required 48 Show how to present the inventories on the April 30 balance sheet.
4-a. Compute gross profit for April. 4-b. Show how to present the inventories on the April 30 balance sheet. Complete this
question by entering your answers in the tabs below. Required 4A Required 48 Show how to present the inventories on the April 30 balance sheet. Inventories Raw materials Work in process Finished goods Total inventories < Required 4A Required 48