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Problem 2-1A Production costs computed and recorded; reports prepared LO C2, P1, P2, P3, P4 The following Information applies to the questions displayed below. Marcelino Co.'s March 31 inventory of raw materials is $86,000. Raw materials purchases in April are $540,000, and factory payroll cost in April is $367,000. Overhead costs incurred in April are: indirect materials, $53.000: indirect labor, $29.000; factory rent, $35.000, factory utilities, $24,000: and factory equipment depreciation, $54,000. The predetermined overhead rate is 50% of direct labor cost Job 306 is sold for $635,000 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 Direct labor Applied overhead 32,000 25,000 12.500 $ 44,000 7,000 8,500 Costs during April Direct materials Direct labor Applied overhead 138,000 103.000 215,000 152,000 $ 105.000 103.000 Status on April 30 Finished (sold) Finished (unsold) In process 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 assigned to each job (including the balances from March 31). Job 306 Job 307 Job 308 April Total From March Direct Materials Direct Labor Applied overhead 32,000 S 25,000 12.500 69,500 S 44,000 17,000 8.500 69,500 $ $ 76,000 42,000 21,000 0 S 139,000 Beginning goods in process For April 138,000 103,000 215,000 Direct Materials Direct Labor Applied overhead 105,000 103,000 51,500 458,000 358,000 179,000 259,500 995,000 259,500 S 1,134.000 152,000 Total costs added in April Total costs (April 30) Status on April 30 51,500 292,500 362,000$ 76,000 443,000 512,500 $ Finished (sold) Finished (unsold) In process April 30 cost included in Cost of goods sold Finished goods inventory Work in process inventory

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