Question

Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are...

Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $570,000, and factory payroll cost in April is $384,000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $29,000; factory rent, $40,000; factory utilities, $21,000; and factory equipment depreciation, $60,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $695,000 cash in April. Costs of the three jobs worked on in April follow.

Job 306

Job 307

Job 308

Balances on March 31

Direct materials

$

26,000

$

37,000

Direct labor

22,000

16,000

Applied overhead

11,000

8,000

Costs during April

Direct materials

130,000

215,000

$

105,000

Direct labor

104,000

151,000

100,000

Applied overhead

?

?

?

Status on April 30

Finished (sold)

Finished (unsold)

In process

rev: 03_14_2018_QC_CS-121813

Problem 2-1A Part 1

Required:
1. Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and the total cost

Job 306 Job 307 Job 308 April Total
From March
Direct Materials $26,000 $37,000 $63,000
Direct Labor 22,000 16,000 38,000
Applied overhead 11,000 8,000 19,000
Beginning goods in process
For April
Direct Materials 130,000 215,000 105,000 450,000
Direct Labor 104,000 151,000 100,000 355,000
Applied overhead
Total costs added in April ? ? ?
Total costs (April 30) ? ? ?
Status on April 30 Finished (sold) Finished (unsold) In process
April 30 cost included in:

Note: Please solve the problem completely

Thank you

Homework Answers

Answer #1
Job 306 Job 307 Job 308 April Total
From March
Direct Materials 26000 37000 63000
Direct Labor 22000 16000 38000
Applied overhead 11000 8000 19000
Beginning goods in process 59000 61000 0 120000
For April
Direct Materials 130000 215000 105000 450000
Direct Labor 104000 151000 100000 355000
Applied overhead 52000 75500 50000 177500
Total costs added in April 286000 441500 255000 982500
Total costs (April 30) 345000 502500 255000 1102500
Status on April 30 Finished (sold) Finished (unsold) In process
April 30 cost included in: Cost of goods sold Finished goods inventory Goods in process inventory
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