Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $377,000. Overhead costs incurred in April are: indirect materials, $56,000; indirect labor, $21,000; factory rent, $40,000; 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 306 $ 25,000 21,000 10,500 Job 307 Job 308 $ 40,000 18,000 9,000 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 134,000 100,000 ? Finished (sold) 205,000 152,000 7 Finished (unsold) $105,000 104,000 7 In process Problem 15-1A Part 3 3. Prepare a schedule of cost of goods manufactured. MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs Total cost of work in process Cost of goods manufactured Required 4A Required 4B Compute gross profit for April. Gross profit Required 4A Required 4B Show how to present the inventories or Inventories Raw materials Work in process Finished goods Total inventories