Jiz Saved Marcelino Co.'s March 31 inventory of raw materials is $90,000. Raw materials purchases in April are $520,000 and factory payroll cost in April is $386.000. Overhead costs incurred in April are: indirect materials, $54,000 indirect labor. $27,000; factory rent, $35,000; factory utilities, $20,000; and factory equipment depreciation, $54,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $665,000 cash in April Costs of the three jobs worked on in April follow. Job 386 Job 307 Job 388 $ 27,000 21,000 1,500 $ 37, eee 17,000 8,500 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 131,00 103,000 205,000 154, eee $110,000 102,800 ? Finished Finished (unsold) In process (sold) 4.1 Compute gross profit for April. Gross Profit 4.2 Show how to present the inventories on the April 30 balance sheet. Inventories Raw materials Work in process