Marcelino Co.'s March 31 inventory of raw materials is $81,000. Raw materials purchases in April are $530,000, and factory payroll cost in April is $380,000. Overhead costs incurred in April are: indirect materials, $51,000; indirect labor, $22,000; factory rent, $40,000; factory utilities, $21,000; and factory equipment depreciation, $60,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $660,000 cash in April. Costs of the three jobs worked on in April follow. Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 4.1 Compute gross profit for April. Gross Profit Inventories Raw materials Work in process Finished goods Total inventories $ 53,000 Job 306 $ 27,000 23,000 11,500 53,000 136,000 104,000 ? Finished (sold). 4.2 Show how to present the inventories on the April 30 balance sheet. Job 307 $ 39,000 15,000 7,500 215,000 151,000 ? Finished (unsold) Job 308 $120,000 103,000 ? In process