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Ciolino Co.’s March 31 inventory of raw materials is $200,000. Raw materials purchases in April are $420,000, and factory payroll cost in April is $218,000. Overhead costs incurred in April are: indirect materials, $32,000; indirect labor, $16,000; factory rent, $19,000; factory utilities, $12,000; and factory equipment depreciation, $37,900. The predetermined overhead rate is 55% of direct labor cost. Job 306 is sold for $370,000 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 | $ | 10,000 | $ | 15,000 | |||||||||||
| Direct labor | 17,000 | 13,000 | |||||||||||||
| Applied overhead | 9,350 | 7,150 | |||||||||||||
| Costs during April | |||||||||||||||
| Direct materials | 105,000 | 180,000 | $ | 75,000 | |||||||||||
| Direct labor | 32,000 | 50,000 | 120,000 | ||||||||||||
| Applied overhead | ? | ? | ? | ||||||||||||
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| Status on April 30 | Finished (sold) | Finished (unsold) | In process | ||||||||||||
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Job 306 From March Direct Materials $10,000 Direct Labor $ 17,000 Applied Overhead $ 9,350 Beginning goods in process ?
For April Direct Materials $ 105,000 Direct Labor $ 32,000 Applied Overhead ?
Total costs added in April ? Total costs (April 30) ? April 30 cost included in: ? |
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