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Additional Information a. Raw Materials Inventory has a March 31 balance of $86,400. ...

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Accounting

Additional Information
a. Raw Materials Inventory has a March 31 balance of $86,400.
b. Raw materials purchases in April are $516,000, and total factory payroll cost in April is $379,000.
c. Actual overhead costs incurred in April are indirect materials, $54,000; indirect labor, $27,000; factory rent, $36,000;
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 $651,000 cash in April.
-a. Compute gross profit for April.
-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.
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