Marcelino Co's March 31 inventory of raw materials is $83,000. Raw materials purchases in April are $590,000, and factory payroll cost in April is $381,000. Overhead costs incurred in April are: indirect materials, $55,000; indirect labor, $23,000; factory rent, $38,000; factory utilities, $19,000; and factory equipment depreciation, $52,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $645,000 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 Direct labor Applied overhead $ 30,000 38,000 16,000 8,000 21,000 10,500 Costs during April Direct materials Direct labor Applied overhead Status on April 30 138,000 101,000 215,000 $100,000 102,000 155, 000 Finished (sold) Finished (unsold) In process 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.) 2. Prepare journal entries for the month of April to record the above transactions Answer is not complete. No Transaction General Journal Debit Credit 590,000 Raw materials inventory Accounts payable 590,000 2 453,000 Work in process inventory Raw materials inventory 453,000 Work in process inventory Cash 4 Factory overhead Cash Work in process inventory 179,000 Factory overhead 179,000 Factory overhead Raw materials inventory f(2) Factory overhead Cash 8 f(3) Factory overhead Accumulated depreciation-factory equipment 9 f(4) Factory overhead Cash Finished goods inventory Work in process inventory 10 Cost of goods sold Finished goods inventor)y 12 Cash 645,000 Sales 645,000 13 Cost of goods sold Factory overhead