Required information
[The following information applies to the questions displayed below.)
Marco Company shows the following costs for three jobs worked on in April.
Balances on March 31
Direct materials used (in March)
Direct labor used (in March)
Overhead applied (March)
Costs during April
Direct materials used
Direct labor used
Overhead applied
Job 306
Job 307
Job 308
$ 29,000
$ 35,000
20,000
18,000
10,000
9,000
135,000
220,000
$ 100,000
85,000
150,000
105,000
?
?
?
Finished
Finished
In process
(sold)
(unsold)
Status on April 30
Additional Information
a. Raw Materials Inventory has a March 31 balance of $80,000.
b. Raw materials purchases in April are $500,000, and total factory payroll cost in April is $363,000.
c. Actual 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.
d. Predetermined overhead rate is 50% of direct labor cost.
e. Job 306 is sold for $635,000 cash in April.