Marco Company shows the following costs for three jobs worked on in April.Job 306$ 26,00024,00012,000Balances on March 31Direct materials used (in March)Direct labor used (in March)Overhead applied (March)Costs during AprilDirect materials usedDirect labor usedOverhead appliedStatus on April 30MARCO COMPANYSchedule of Cost of Goods ManufacturedFor Month Ended April 30Total manufacturing costs131,000104,000?Total cost of work in processFinished(sold)Cost of goods manufacturedJob 307$ 40,00016,0008,000210,000155,000Finished(unsold)Additional Informationa. Raw Materials Inventory has a March 31 balance of $87,000.b. Raw materials purchases in April are $570,000, and total factory payroll cost in April is $386,000.c. Actual overhead costs incurred in April are indirect materials, $51,000; indirect labor, $24,000; factory rent, $35,000;factory utilities, $22,000; and factory equipment depreciation, $57,000.d. Predetermined overhead rate is 50% of direct labor cost.e. Job 306 is sold for $655,000 cash in April.Job 3084. Prepare a schedule of cost of goods manufactured for the month end April 30.$ 110,000103,000In process

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Description: Marco Company shows the following costs for three jobs worked on in April.Job 306$ 26,00024,00012,000Balances on March 31Direct materials used (in March)Direct labor used (in March)Overhead applied (March)Costs during AprilDirect materials usedDirec

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Marco Company shows the following costs for three jobs worked on in April. Job 306 Job 307 $ 40,000 $ 26,000 24,000 12,000 16,000 8,000 Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 MARCO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs 131,000 104,000 Total cost of work in process Finished (sold) Cost of goods manufactured 210,000 155,000 ? Additional Information a. Raw Materials Inventory has a March 31 balance of $87,000. b. Raw materials purchases in April are $570,000, and total factory payroll cost in April is $386,000. c. Actual overhead costs incurred in April are indirect materials, $51,000; indirect labor, $24,000; factory rent, $35,000; factory utilities, $22,000; and factory equipment depreciation, $57,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $655,000 cash in April. Finished (unsold) 4. Prepare a schedule of cost of goods manufactured for the month end April 30. Job 308 $ 110,000 103,000 ? In process

Marco Company shows the following costs for three jobs worked on in April. Job 306 Job 307 $ 40,000 $ 26,000 24,000 12,000 16,000 8,000 Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 MARCO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs 131,000 104,000 Total cost of work in process Finished (sold) Cost of goods manufactured 210,000 155,000 ? Additional Information a. Raw Materials Inventory has a March 31 balance of $87,000. b. Raw materials purchases in April are $570,000, and total factory payroll cost in April is $386,000. c. Actual overhead costs incurred in April are indirect materials, $51,000; indirect labor, $24,000; factory rent, $35,000; factory utilities, $22,000; and factory equipment depreciation, $57,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $655,000 cash in April. Finished (unsold) 4. Prepare a schedule of cost of goods manufactured for the month end April 30. Job 308 $ 110,000 103,000 ? In process

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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