Determine the total of each production cost incurred

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Reference no: EM132622039

Marcelino Co.'s March 31 inventory of raw materials is $81,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $389,000. Overhead costs incurred in April are: indirect materials, $52,000; indirect labor, $29,000; factory rent, $34,000; 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

Balances on March 31

 

 

 

Direct materials

$27,000

$37,000

 

Direct labor

23,000

16,000

 

Applied overhead

11,500

8,000

 

Costs during April

 

 

 

Direct materials

131,000

210,000

$100,000

Direct labor

103,000

155,000

102,000

Applied overhead

?

?

?

Question 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).

Reference no: EM132622039

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