The following information applies to the questions displayed

[The following information applies to the questions displayed below.]

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.

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).

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
Balances on March 31
Direct materials		$	29,000			$	35,000
Direct labor			20,000				18,000
Applied overhead			10,000				9,000
Costs during April
Direct materials			135,000				220,000			$	100,000
Direct labor			85,000				150,000				105,000
Applied overhead			?				?				?
Status on April 30	Finished (sold)	Finished (unsold)		In process

Solution

Job 306 Job 307 Job 308 April 1) total From March Direct materials 29,000 35,000 64,000 Direct labor 20,000 18,000 38,000 applied overhead 10,000 9,000 19,000 Beginning goods in process 59,000 62,000 121,000 For April Direct materials 135,000 220,000 100,000 455,000 Direct labor 85,000 150,000 105,000 340,000 applied overhead 42500 75000 52500 170,000 Total costs added in April 262,500 445,000 257,500 965,000 total costs (April 30) 321,500 507,000 257,500 1,086,000 Satus on april 30 fin(sold) fin(unsold) in process April costs included in : COGS finished WIP goods inventory