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Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $385,000.

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Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $23,000; factory rent, $34,000; factory utilities, $22,000; and factory equipment depreciation, $54,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $680,000 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 $ 31,000 $ 36,000
Direct labor 21,000 13,000
Applied overhead 10,500 6,500
Costs during April
Direct materials 131,000 220,000 $ 110,000
Direct labor 104,000 154,000 104,000
Applied overhead ? ? ?
Status on April 30 Finished (sold) Finished (unsold) In process
Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are indirect materials, $58,000; indirect labor, $23,000; factory rent, $34,000; factory utilities $22,000; and factory equipment depreciation, $54,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $680,000 cash in April. Costs of the three jobs worked orn in April follow Job 306 Job 307 Job 308 Balances on March 31 Direct materials Direct labor Applied overhead $31,000 36,000 13,000 6, 500 21,000 1,500 Costs during April Direct materials Direct labor Applied overhead Status on April 3e 131,000 22,000 $110,00e 184,000 154,000 184,000 Finished Finished (sold (unsold) process Problem 19-1A Part 4 4.1 Compute gross profit for April Gross Profit

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