Question: marcelino cos march 31 inventory of raw materials is 81000...
Marcelino Co.'s March 31 inventory of raw materials is $81,000. Raw materials purchases in April are $570,000, and factory payroll cost in April is $378,000. Overhead costs incurred in April are: indirect materials, $50,000; indirect labor, $25,000; factory rent, $38,000; factory utilities, $22,000; and factory equipment depreciation, $60,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $665,000 cash in April. Costs of the three jobs worked on in April follow.
|Job 306||Job 307||Job 308|
|Balances on March 31|
|Costs during April|
|Status on April 30||Finished (sold)||Finished (unsold)||In process|