Marcelino Co.'s March 31 inventory of raw materials is $86,000. Raw materials purchases in April...
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Accounting
Marcelino Co.'s March 31 inventory of raw materials is $86,000. Raw materials purchases in April are $510,000, and factory payroll cost in April is $380,000. Overhead costs incurred in April are: indirect materials, $59,000; indirect labor, $24,000; factory rent, $31,000; factory utilities, $23,000; and factory equipment depreciation, $59,000. 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. Prepare a schedule of cost of goods manufactured.
Job 306
Job 307
Job 308
Balances on March 31
Direct materials
$
29,000
$
43,000
Direct labor
24,000
13,000
Applied overhead
12,000
6,500
Costs during April
Direct materials
134,000
210,000
$
110,000
Direct labor
101,000
153,000
102,000
Applied overhead
?
?
?
Status on April 30
Finished (sold)
Finished (unsold)
In process
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