Marcelino Co.'s March 31 inventory of raw materials is $85,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $379,000. Overhead costs incurred in April are: indirect materials, $59,000, indirect labor, $24,000; factory rent, $34,000; factory utilities, $23,000; and factory equipment depreciation, $61,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $675,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $ 28,000 25,000 12,500 $40,000 13.000 5.500 Balances on March 31 Direet materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 137,000 103,000 205,000 150,000 $115,000 102.000 Finished sold) Finished unsold) process Required: 1. Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from March 31). Job 306 Job 307 Job 308 April Total From March Direct Materials Direct Labor Applied overhead Beginning goods in process 28.000 25,000 12,500 40,000 13.000 6,500 68,000 38.000 19.000 457.000 137,000 103,000 205.000 150,000 115,000 102,000 355,000 For April Direct Materials Direct Labor Applied overhead Total costs added in April Total costs (April 30) Status on April 30 April 30 cost included in: 240,000 355,000 217.000 812 000 Finished (sold) Finished (unsold) in process 4.1 Compute gross profit for April. Gross Profit 4.2 Show how to present the inventories on the April 30 balance sheet. Inventories Raw materials Work in process Finished goods Total inventories