Question;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;?;?;?;Status on April 30;Finished (sold);Finished (unsold);In process;Determine the total of each production cost incurred for April;(direct labor, direct materials, and applied overhead), and the total cost;assigned to each job (including the balances from March 31).;Job 306;FromMarch;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)?;Status on April 30 Finished (sold);April 30 cost included in:?
Paper#37241 | Written in 18-Jul-2015Price : $20