Lemmon cos 31st march inventory of raw materials is 150000

Reference no: EM13352116

Lemmon Co.'s 31^st March inventory of raw materials is $150,000. Raw materials buys in April are $410,000, and factory payroll cost in April is $240,000. Overhead costs incurred in April are:

Indirect materials, $27,000;

Indirect labor, $11,000;

Factory rent, $16,000;

Factory utilities, $8,000; and

Factory equipment depreciation, $19,000.

The pre-evaluated overhead rate is 75% of direct labor cost. Job 306 is sold for $390,000 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 $15,000 $17,000

Direct labor 20,000 12,000

Applied overhead 15,000 9,000

Costs during April

Direct materials 105,000 190,000 65,000

Direct labor 42,000 60,000 130,000

Applied overhead ? ? ?

Status on April 30 Finished (sold) Finished (unsold) In process

Requirement:

Evaluate the total of each production cost incurred for April (direct materials, direct labor, and applied overhead), and the total cost related to each job (including the balances from 31^st March).

Reference no: EM13352116

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