gnment i Saved Help Required information [The following information applies to the questions displayed below] Marcelino Co's March 31 inventory of raw materials is $85,000. Raw materials purchases in April are $570,000, and factory payroll cost in April is $388,000. Overhead costs incurred in April are: indirect materials, $51,000, indirect labor, $30,000, factory rent, $35,000; factory utilities, $19,000; and factory equipment depreciation, $52,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $630,000 cash in April. Costs of the three jobs worked on in April follow. Balances on March 31 Direct materials Direct labor Applied overhead Costs during April $30,000 Job 306 Job 307 Job 388 $ 31,000 25,000 12,500 18,000 9,000 Direct materials Direct labor 135,000 105,000 215,000 151,000 $105,000 Applied overhead 102,000 7 Finished Status on April 30 (sold) Finished (unsold) In process 4-0. Compute gross profit for April 4-b. Show how to present the inventories on the April 30 balance sheet < Prev of 6 Next >