Job 306 Job 307 Job 308 Balances on March 31 Direct materials used (in March) $ 29, 000 $ 40, 000 Direct labor used (in March) 20, 000 19, 000 Overhead applied (March) 10, 000 9 , 500 Costs during April Direct materials used 134, 000 205, 000 $ 105, 000 Direct labor used 104, 000 150, 000 104, 000 Overhead applied ? ? Status on April 30 Finished Finished (sold) (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $89,000. b. Raw materials purchases in April are $560,000, and total factory payroll cost in April is $384,000. c. Actual overhead costs incurred in April are indirect materials, $59,000; indirect labor, $26,000; factory rent, $33,000; factory utilities, $24,000; and factory equipment depreciation, $57,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $675,000 cash in April. Materials purchases (on credit). Direct materials used. Direct labor used (and paid in cash) and assigned to Work in Process Inventory. direct materials used and assigned to Factory Overhead. ndirect labor used (and paid in cash) and assigned to Factory Overhead. verhead costs applied to Work in Process Inventory. Actual other overhead costs incurred (Factory rent and utilities are paid in cash.) Transfer of Jobs 306 and 307 to Finished Goods Inventory. ost of goods sold for Job 306. evenue from the sale of Job 306 received in cash. Close underapplied or overapplied overhead to the Cost of Goods Sold account