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, nputed Job 306 Job 307 Job sou 5 29.000 20.000 10.000 $15.000 10,000 5.000 Races on March 11 Dimas Director Applied overhead Cests during April Dect materials Direct labore Applied overhead Status on April 30 220,000 150.000 $100,000 105.000 135.000 05.000 7 Finished hold Finished untold in process Required 1. Determine the total of each production cost incurred for April (direct labor direct materials, and applied overhead) and the total cost assigned to each job including the balances from March 31). 2. Prepare journal entries for the month of April to record the following a. Materials purchases (on credit) b. Direct materials used in production c. Direct labor paid and assigned to Work in Process Inventory d. Indirect labor paid and assigned to Factory Overhead e. Overhead costs applied to Work in Process Inventory f. Actual overhead costs incurred, including indirect materials. (Factory rent and utilities are paid in cash) g. Transfer of Jobs 306 and 307 to Finished Goods Inventory h. Cost of goods sold for Job 306. i. Revenue from the sale of Job 306. j. Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. (The amount is not material.) Check 2550 unde apoio Costol