- Required Information The Following Information Applies To The Questions Displayed Below Marco Company Shows The Foll 1 (55.28 KiB) Viewed 32 times
- Required Information The Following Information Applies To The Questions Displayed Below Marco Company Shows The Foll 2 (73.9 KiB) Viewed 32 times
ces Required Information [The following information applies to the questions displayed below] Marco Company shows the following costs for three jobs worked on in April. Job 386 Job 307 Job 308 Balances on March 31 $32,000 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) 23,000 11,500 $ 37,000 16,000 8,000 Costs during April Direct materials used i Direct labor used i Overhead applied 132,000 105,000 210,000 150,000 $ 100,000 101,000 Status on April 30 Finished (sold) Finished (unsold) In process Additional Information a. Raw Materials, Inventory has a March 31 balance of $86,000. b. Raw materials purchases in April are $550,000, and total factory payroll cost in April is $384,000 c. Actual overhead costs incurred in April are indirect materials, $58,000; indirect labor, $28,000; factory rent, $32,000; factory utilities, $23.000; and factory equipment depreciation, $55,000. d. Predetermined overhead rate is 50% of direct labor cost e. Job 306 is sold for $650,000 cash in April. 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31), Job 200 Job 207 Job 300 April Total March 37,000 Direct materials Direct labor 32.000 23,000 11.500 16,000 Overhead applied 8,000 Work in process, beginning April Direct materials 132.000 210,000 Direct labor 105.000 150.000 Overhead applied Costs added in April Total costs Status on April 30 Apri 30 cost included in S Finished (sold) 5 Finished (unsold) In process 100,000 101.000 442,000 350,000