Question

Number 1 please do all of them.

Required information Problem 02-1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4 The following information applies to the questions displayed below.) Part 1 of 4 Marcelino Co.'s March 31 inventory of raw materials is $80,000. Raw materials purchases in April are $500,000, and factory payroll cost in April is $363,000. Overhead costs incurred in April are: indirect materials, $50,000; indirect labor, $23,000; factory rent, $32,000; factory utilities, $19,000; and factory equipment depreciation, $51,000. 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. points eBook Job 306 Job 307 Job 308 Print References $ 29,000 20,000 10,000 $ 35,000 18,000 9,000 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 135,000 85,000 220,000 150,000 $100,000 105,000 ? Finished (sold) Finished (unsold) In process Problem 02-1A 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 iob (including the balances from March 3 Screenshot

Answer 1

Job 06 Job 307 Job B08 April Total from March Direct Labor $ 19,000 Direct Materials $29,000 $35,000 $ 64,000 $ 20,000 $ 18,000 $ 38,000 Applied overhead $ 10,000 $ 9,000 Beginning goods in process $59,000 $ 62.,000 $0 $ 121,000 for April Direct Materials $ 135,000 $ 220,000 $100,000 $455,000 Direct Labor $ 85,000 & 150,000 $ 105,000 $340,000 Applied overhead $ 42,500 $ 15,000 & 52,500 & 170,000 Total costs added in April $262,500 $ 445,000 $257,500 $965,000 Total coats (April 30 $321,500 & 5o7,000 $25T, SO0 $1,086, 00o Status on April 30 finished soud) finished unsold) in process April 30 cost included Cost of goodly Firushed goods Goods in sold inventary Precess inven- tory Calculation: Beginning goods in process = ( Direct Materials & Direct Labor + Applied overhead) Job 306? Beginning goods in process a { $29,000 + $20,000 + $ 10,000) $ 59,000 Applied overhead = 50% of Direct labor cost Job 306 Applied over head & 50% of & 85,000 = $427

Job 307 Applied overhead 50% X $ 150,000 = = $ 75,000 Job 308 Applied overhead = 50). X # 105,000 = $ 52,500 April Total: Applied oves head & 50% × $340,000 = $ 170,000 added Total costs in April = Direct Materials & Direct labor & Applied overhead for Job 306 : Total costs added in April - & 135,000 + $ 85,000 + $ 42,500 = $ 262,50D Total costs (April 30) = Beginning goods in Total costs added process + in April for Job 3 06 : Total costs = $54,000 + $ 262,500 = $ 321, SDO for Job 307 Total costs = = & 445,000 $ 62,000+ $ 507,000