Marcelino Co.'s March 31 inventory of raw materials is $81,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $378,000. Overhead costs incurred in April are: indirect materials, $56,000; indirect labor, $24,000; factory rent, $35,000; factory utilities, $24,000; and factory equipment depreciation, $51,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $675,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 Balances on March 31 Direct materials $ 26,000 $ 39,000 Direct labor 21,000 16,000 Applied overhead 10,500 8,000 Costs during April Direct materials 140,000 200,000 $ 115,000 Direct labor 100,000 152,000 102,000 Applied overhead ? ? ? Status on April 30 Finished (sold) Finished (unsold) In process rev: 03_15_2018_QC_CS-121813 4.1 Compute gross profit for April. 4.2 Show how to present the inventories on the April 30 balance sheet.