Marcelino Co.'s March 31 inventory of raw materials is $87,000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $376,000. Overhead costs incurred in April are: indirect materials, $59,000; indirect labor, $20,000; factory rent, $39,000; factory utilities, $23,000; and factory equipment depreciation, $60,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $655,000 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			$	45,000
Direct labor			22,000				15,000
Applied overhead			11,000				7,500
Costs during April
Direct materials			140,000				215,000			$	120,000
Direct labor			102,000				152,000				102,000
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.

Complete this question by entering your answers in the tabs below. Required 4A Required 4B Compute gross profit for April. Gross profit 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