Marcelino Co.'s March 31 inventory of raw materials is $85,000. Raw materials purchases in April are $530,000, and factory payroll cost in April is $386,000. Overhead costs incurred in April are: indirect materials, $52,000; indirect labor, $26,000; factory rent, $34,000; factory utilities, $20,000; and factory equipment depreciation, $52,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $670,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $ 30,000 20,000 10,000 $ 44,000 16,000 8,000 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 $120,000 103,000 136,000 103,000 ? Finished (sold) 205,000 154,000 ? Finished (unsold) ? In process No Transaction General Journal Debit Credit 1 a. 530,000 Raw materials inventory Accounts payable 530,000 2 b. Work in process inventory Raw materials inventory 3 C Work in process inventory Cash 4 d Factory overhead Cash 5 e Work in process inventory Factory overhead 6 f(1). Factory overhead Raw materials inventory 7 f(2). Factory overhead Cash 8 f(3). Factory overhead Accumulated depreciation-factory equipment 9 f(4). Factory overhead Cash 10 g Finished goods inventory Work in process inventory 11 h Cost of goods sold Finished goods inventory 12 i. Cash Sales 13 j. Cost of goods sold Factory overhead 3. Prepare a schedule of cost of goods manufactured. Answer is not complete. MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Actual factory overhead Depreciation of equipment x Direct materials used Total manufacturing costs Add: Overapplied overhead Total cost of work in process Less: Work in process April 30 Cost of goods manufactured 0 0 $ 0 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 4A Required 4B Compute gross profit for April. Gross profit Show how to present the inventories on the April 30 balance sheet. Inventories Raw materials Work in process Finished goods Total inventories