Ine tollowing intormation applies to the questions displayed below Marcelino Co.'s March 31 inventory of raw materials is $86,000. Raw materials purchases in April are $530,000, and factory payroll cost in April is $383,000. Overhead costs incurred in April are: indirect materials, $53,000; indirect labor, $27,000; factory rent, $35,000; factory utilities, $22,000; and factory equipment depreciation, $59,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $645,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 Balances on March 31 $ 32,000 Direct materials $45,000 14,000 7,000 Direct labor 21,000 10,500 Applied overhead Costs during April Direct materials 138,000 210,000 151,000 $110,000 105,000 Direct lab 100,000 Applied overhead Finished Finished (unsold) In Status on April 30 (sold) process 41 Compute gross profit for April. Gross Profit int 4.2 Show how to present the inventories on the April 30 balance sheet. rences Inventories Raw materials Work in process Finished goods Total inventories 0