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Job 306 Job 307 Job 308
Balances on March 31
Direct materials used (in March) $ 29,000 $ 35,000
Direct labor used (in March) 20,000 18,000
Overhead applied (March) 10,000 9,000
Costs during April Direct materials used 135,000 220,000 $ 100,000
Direct labor used 85,000 150,000 105,000
Overhead applied ? ? ?
Required:
1. Determine the amount of overhead applied to each job in April.
2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31).
3. Prepare a schedule of cost of goods manufactured for the month end April 30.
4-a. Compute gross profit for April.
4-b. Show how the three inventory accounts are reported on the April 30 balance sheet.

0 Answer