Question

 Problem 15-1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4 (The following information applies to the questions displayed below.)

 Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $383,000. Overhead costs incurred in April are: indirect materials, $60,000; indirect labor, $28,000; factory rent, $34,000; factory utilities, $19,000; and factory equipment depreciation, $60,000. 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.

 Problem 15-1A Part 3

 3. Prepare a schedule of cost of goods manufactured.

Answer 1

Below is the schedule of Cost of Goods Manufactured: -

Schedule of cost of goods manufactured
For month ended April 30
Direct materials used	458,000	138000+215000+105000
Direct labor used	355,000	100000+150000+105000
Factory overhead applied	177,500	355000*50%
Total manufacturing costs	990,500
Add: Work in Process, March 31	131,000	27000+24000+12000+44000+16000+8000
Total cost of work in Process	1,121,500
Less: Work in Process, April 30	262,500	105000+105000+105000*50%
Cost of goods manufactured	859,000