Marcelino Co.'s March 31 inventory of raw materials is $87,000. Raw materials purchases in April are $530,000, and factory payroll cost in April is $378,000. Overhead costs incurred in April are: indirect materials, $59,000; indirect labor, $21,000; factory rent, $36,000; factory utilities, $21,000; and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $650,000 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		$	28,000			$	45,000
Direct labor			24,000				16,000
Applied overhead			12,000				8,000
Costs during April
Direct materials			137,000				215,000			$	105,000
Direct labor			101,000				151,000				105,000
Applied overhead			?				?				?
Status on April 30	Finished (sold)				Finished (unsold)					In process
Compute gross profit for April. Show how to present the inventories on the April 30 balance sheet.