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.

3. Prepare a schedule of cost of goods manufactured.

	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

Schedule of goods of goods manufactured direct materials used 455,000 Direct labor used 340,000 factory overhead applied 170,000 total manufacturing costs 965,000 Add:work in process March 31 121,000 total cost of work in process 1,086,000 less:work in process April 30 257,500 cost of goods manufactured 828,500