Marcelino Co.'s March 31 inventory of raw materials is $81,000. Raw materials purchases in April...
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Accounting
Marcelino Co.'s March 31 inventory of raw materials is $81,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $389,000. Overhead costs incurred in April are: indirect materials, $55,000; indirect labor, $29,000; factory rent, $36,000; factory utilities, $24,000; and factory equipment depreciation, $61,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $665,000 cash in April. Costs of the three jobs worked on in April follow.
Balances on March 31
Direct materials
$
27,000
$
41,000
Direct labor
23,000
16,000
Applied overhead
11,500
8,000
Costs during April
Direct materials
137,000
205,000
$
115,000
Direct labor
104,000
152,000
104,000
Applied overhead
?
?
?
Status on April 30
Finished (sold)
Finished (unsold)
In process
find the following
Raw materials
Gross Profit
Answer & Explanation
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