Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $520,000, and factory payroll cost in April is $379,000. Overhead costs incurred in April are: indirect materials, $51,000; indirect labor, $22,000; factory rent, $38,000; factory utilities, $21,000; and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $630,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $ 30,000 21,000 10,500 $ 42,000 19,000 9,500 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 130,000 101,000 200,000 151,000 $105,000 105,000 Finished (sold) Finished (unsold) In process Required: 1. Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and th cost assigned to each job (including the balances from March 31). Job 306 Job 307 Job 308 April Total $ 30,000 21.000 10,500 42.000 19.000 9.500 72,000 40,000 20,000 From March Direct Materials Direct Labor Applied overhead Beginning goods in process For April Direct Materials Direct Labor Applied overhead Total costs added in April 130,000 101.000 200.000 151,000 105,000 105,000 435,000 357,000 231.000 351.000 210,000 792,000 Total costs (April 30) Status on April 30 Finished (sold) Finished (unsold) in process April 30 cost included in: Cost of goods sold Finished goods inventory Work in process inventory 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. 3. Prepare a schedule of cost of goods manufactured. MARCELINO COMPANY Schedule of Cost of Goods Manufactured 4-a. Compute gross profit for April. For Month Ended April 30 4-b. Show how to present the inventories on the April 30 balance sheet. Direct materials used Direct labor used Complete this question by entering your answers in the tabs below. Factory overhead applied Total manufacturing costs Required 4A Required 48 Less: Work in process April 30 Total cost of work in process Compute gross profit for April Less: Underapplied overhead Cost of goods manufactured $ Gross profit 4-a. Compute gross profit for April 4-b. Show how to present the inventories on the April 30 balance sheet Complete this question by entering your answers in the tabs below. Required Required 43 Show how to present the inventories on the April 30 balance sheet. Inventories Raw materiais Work in process Finished goods Total inventories