Marcelino Co's March 31 inventory of raw materials is $87,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $375,000. Overhead costs incurred in April are: indirect materials, $50,000; indirect labor, $20,000 factory rent, $39,000; factory utilities, $22,000; and factory equipment depreciation, $58,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $680,000 cash in April. Costs of the three jobs worked on in April follow. Job 307 Job 308 $ 36,000 17,000 8,500 Job 386 Balances on March 31 Direct $ 29,000 materials Direct labor 22,000 Applied overhead 11, eee Costs during April Direct materials 135,000 Direct labor 101, eee Applied ? overhead Status on April Finished 30 (sold) 215,000 152, eee ? $115,000 102,000 ? Finished (unsold) In process 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. 4. 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. i. Revenue from the sale of Job 306. j. Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. (The amount is 2. Prepare journal entries for the month of April to record the above transactions. 4-8. 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 Show how to present the inventories on the April 30 balance sheet. Inventories Raw materials $ Work in process Finished goods Total inventories 174,000 268,000 504,500 946,500 $ 4-8. 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 $ 358,500