351 Required information [The following information applies to the questions displayed below) Marcelino Co's March 31 inventory of raw materials is $89,000, Raw materials purchases in April are $590,000, and factory payroll cost in April is $388,000. Overhead costs incurred in April are: indirect materials. $58,000; indirect labor, $28,000; factory rent, $30,000; factory utilities, $25,000; and factory equipment depreciation, $54,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $660,000 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 $ 30,000 $ 43,000 Direct labor 24,000 18,000 Applied overhead 12,000 9,000 Costs during April Direct materials 133,000 215,000 $120,000 Direct labor 181,000 154,000 105,000 Applied overhead 2 7 Finished Finished Status on April 30 (sold) (unsold) process In 4-a. Compute gross profit for April 4-b. Show how to present the inventories on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Required 4A Required 48 Compute gross profit for April Gross profit Required 40 >