Book11670.xlsx - Marcelino Co 1.Determine the total of each production cost incurred for April From March Direct materials Direct Labour Applied

Book11670.xlsx - Marcelino Co 1.Determine the total of each...

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Marcelino Co. 1.Determine the total of each production cost incurred for April Job 306 Job 307 From March Direct materials 32000 37000 Direct Labour 24000 17000 Applied Overhead 12000 8500 Beginning goods in process 68000 62500 For April Direct materials 138000 215000 Direct Labour 103000 152000 Applied Overhead 51500 76000 Total Costs added in April 292500 443000 Total Costs (April 30) 360500 505500 Status on April 30 Finished (sold) Finished (unsold) April 30 cost included in Cost of goods sold Finished goods inventory Manufacturing Statement For Month Ended April 30 Direct materials used 463000 Direct labor used 356000 Factory overhead 178000 Total Manufacturing costs 997000 Add:Work in process March 31 130500 Total cost of work in process 1127500 Less:Work in process April 30 -261500 Cost of goods manufactured 866000 4. Compute gross profit for April. Sales 635000 Less:Cost of goods sold 373500 Gross Profit 261500 5. Show how to present the inventories on the April 30 balance sheet. Raw materials 111000 Goods in process -261500 Finished goods 505500 Total inventories 355000 Raw material = 540000 + 85000 - 51000 - 463000 = 111000 3.
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  • Spring '12
  • CDG
  • Supply chain management terms, Factory Overhead, total of each production cost

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