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Additional Information a. Raw Materials Inventory has a March 31 balance of $88,000. ...

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Accounting

Additional Information
a. Raw Materials Inventory has a March 31 balance of $88,000.
b. Raw materials purchases in April are $520,000, and total factory payroll cost in April is $383,000.
c. Actual overhead costs incurred in April are indirect materials, $55,000; indirect labor, $28,000; factory rent, $37,000;
factory utilities, $24,000; and factory equipment depreciation, $56,000.
d. Predetermined overhead rate is 50% of direct labor cost.
e. Job 306 is sold for $655,000 cash in April.
Determine the total cost assigned to each job as of April 30(including the balances from March 31).Marco Company shows the following costs for three jobs worked on in April.
\table[[,Job 306,Job 307,Job 308],[Balances on March 31,,,],[Direct materials used (in March),$37,000,$43,000,],[Direct labor used (in March),28,000,26,000,],[Overhead applied (March),18,000,17,000,],[Costs during April,,,],[Direct materials used,155,000,240,000,$120,000
Prepare Journal Entries for the month of April to record the above transactions.
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