Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $530,000, and factory payroll cost in April is $354,000. Overhead costs incurred in April are: indirect materials, $60,000; indirect labor, $27,000; factory rent, $26,000; factory utilities, $14,000; and factory equipment depreciation, $47,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $450,000 cash in April. Costs of the three jobs worked on in April follow.
Job Cost Sheets		Job 306		Job 307		Job 308
	Balances on March 31
	Direct materials	27,000		38,000
	Direct labor	22,000		16,000
	Applied overhead	11,000		8,000
	Costs during April
	Direct materials	140,000		208,000		105,000
	Direct labor	94,000		145,000		88,000
	Applied overhead	47000		72500		44000
	Status on April 30	Finished (sold)		Finished (unsold)		In process
	Total Costs	281,000		425,500		237,000
Part 2: Prepare journal entries for the month of April to record the following transactions.
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.