Ciolino Co.'s March 31 inventory of raw materials is $200,000. Raw materials purchases in April are $420,000, and factory payroll...

profilerisngd

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 306Job 307Job 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 30Finished (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

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)   ?
Status on April 30  Finished (sold)

April 30 cost included in:   ?

 

    • 13 years ago
    • 999999.99
    Answer(1)

    Purchase the answer to view it

    blurred-text
    NOT RATED
    • attachment
      ciolino_co_job_order_costing.xlsx
    Bids(0)