Marcelino Co.'s March 31 inventory of raw materials is $86,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $374,000. Overhead costs incurred in April are: indirect materials, $55,000; indirect labor, $24,000; factory rent, $39,000; factory utilities, $25,000; and factory equipment depreciation, $59,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 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	$26,000	$44,000
Direct labor	24,000	18,000
Applied overhead	12,000	9,000
Costs during April
Direct materials	135,000	215,000	$115,000
Direct labor	100,000	150,000	100,000
Applied overhead	?	?	?
Status on April 30	Finished (sold)	Finished (unsold)	In process

4.1) COMPUTE GROSS PROFIT

4.2 Show how to present the inventories on the April 30 balance sheet.

Raw Materials	-
Work in Process	-
Finished Goods	-
Inventories	-