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Mework i Help Save & Exit Sube Check my wo Required information Problem 15-1A Production costs...

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mework i Help Save & Exit Sube Check my wo Required information Problem 15-1A Production costs computed and recorded; reports
Status on April 30 (sold) (unsold) process Problem 15-1A Part 3 3. Prepare a schedule of cost of goods manufactured. MARCELIN
mework i Help Save & Exit Sube Check my wo Required information 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 $87.000. Raw materials purchases in April are $590.000, and factory payroll cost in April is $386.000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $29.000; factory rent, $40,000; factory utilities, $22,000; and factory equipment depreciation, $55,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $655.000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $31.000 24,000 12,000 $ 38,000 15,000 7,500 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 132,000 102,000 215,000 154,000 $105,000 101.000 In Finished (sold) Finished (unsold) process < Prev 67 of 7 Next >
Status on April 30 (sold) (unsold) process Problem 15-1A Part 3 3. Prepare a schedule of cost of goods manufactured. MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Direct materials used Direct labor used Factory overhead applied Total manufacturing costs Add: Work in process March 31 Total cost of work in process Less: Work in process April 30 Cost of goods manufactured $ 0 Drau

Answers

3)

MARCELINO COMPANY

Schedule of cost of goods manufactured

for month ended April 30

Direct material used [132000+215000+105000] 452000
Direct labor [102000+154000+101000] 357000
Overhead applied [357000*50%] 178500
Total manufacturing cost 987500
Add:Work in process march 31 127500
Total cost of work in process 1115000
less:Work in process April 30 (256500)
cost of goods manufactured 858500

Working :

Beginning work in process = Cost of Job 306 + Job 307

            = [31000+24000+12000]+ [38000+15000+7500]

            = 67000+60500

            = 127500

Ending work in process = cost of Job 308

                = 105000 +101000+ (101000*50%)

             = 256500

.

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