Required information Problem 19-1A Production costs computed and recorded; repor

Question

Required information Problem 19-1A Production costs computed and recorded; reports prepared LO C2, P1, P2, P3, P4 [The following information applies to the questions displayed below.J Marcelino Co's March 31 inventory of raw materials is $87,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $384,000. Overhead costs incurred in April are: indirect materials, $55,000; indirect labor, $29,000; factory rent, $33,000; factory utilities, $23,000; and factory equipment depreciation, $58,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $695,000 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 s 26,000 36,000 13,000 6,500 21,000 10,500 Costs during April Direct materials Direct labor Applied overhead Status on April 30 137,000 104,000 220,000 $110,000 101,000 150,000 Finished (sold) Finished_ In process (unsold)

Explanation / Answer

Applied Over head for the month of April is 50% of direct Labour

Job 306,Direct labour is 104000

Overhead is 52000

Job 307 direcr labour is 150000

Over head is 75000

Job 308 direct labour is 101000

over head is 50500

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