Marcelino Co.'s March 31 inventory of raw materials is $86,000. Raw materials purchases in April are $570,000, and factory payroll cost in April is $379,000. Overhead costs incurred in April are: indirect materials, $52,000; indirect labor, $24,000; factory rent, $30,000; factory utilities, $20,000; and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $695,000 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		$	30,000			$	44,000
Direct labor			22,000				15,000
Applied overhead			11,000				7,500
Costs during April
Direct materials			132,000				220,000			$	115,000
Direct labor			100,000				154,000				101,000
Applied overhead			?				?				?
Status on April 30	Finished (sold)				Finished (unsold)					In process

4-a. Compute gross profit for April. 4-b. Show how to present the inventories on the April 30 balance sheet.