Marcelino Co.'s March 31 inventory of raw materials is $82,000. Raw materials purchases in April are $540,000, and factory payroll cost in April is $376,000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $20,000; factory rent, $39,000; factory utilities, $25,000; and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $670,000 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			$	40,000
Direct labor			23,000				18,000
Applied overhead			11,500				9,000
Costs during April
Direct materials			138,000				210,000			$	110,000
Direct labor			101,000				152,000				103,000
Applied overhead			?				?				?
Status on April 30	Finished (sold)				Finished (unsold)					In process

4-a. Compute gross profit for April. 4-b. Show how to present the inventories on the April 30 balance sheet.