Marcelino Co.s March 31 inventory of raw materials is $80,000. Raw materials purchases in April are $500,000, and factory payroll cost in April is $363,000. Overhead costs incurred in April are: indirect materials, $50,000; indirect labor, $23,000; factory rent, $32,000; factory utilities, $19,000; and factory equipment depreciation, $51,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 cash in April. Costs of the three jobs worked on in April follow.

1. Prepare journal entries to record the transactions of Marcelino Company during the month of April.

2. Calculate the total cost, and account classification for each job worked on during April.

3. Prepare a schedule of cost of goods manufactured for Marcelino Company during the month of April.

4. Calculate the gross profit on the sale of job(s) during April.

Job 306 Job 307 Job 308 Balances on March 31 Direct materials Direct labor Applied overhead $29,000 20,000 10,000 $35,000 18,000 9,000 Costs during April Direct materials Direct labor Applied overhead 135,000 85,000 42,500 220,000 $100,000 150,000 105,000 75,000 52,500 Status on April 30 Finished (sold) Finished (unsold) In process