Marcelino Co.'s March 31 inventory of raw materials is $89,000. Raw materials purchases in April are $500,000, and factory payroll cost in April is $375,000. Overhead costs incurred in April are: indirect materials, $60,000; indirect labor, $21,000; factory rent, $36,000; factory utilities, $23,000; and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $685,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $ 28,000 20,000 10,000 $ 43,000 13,000 6,500 Balances on March 31 Direct materials Direct labor Applied overhead Conts during April Direct materials Direct labor Applied overhead Status on April 30 130,000 101,000 200,000 152,000 $100,000 101.000 Pinished (sold) Finished (unsold) 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. f. 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. 1. 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 not materials mai entry worksheet 2 3 4 5 6 7 8 ..... 13 Record the entry for Materials purchases (on credit). Note: Enter debits before credits. Transaction General Journal Debit Credit ournal entry worksheet 1 2 4 5 7 8 ..... 13 Record the direct materials used in production. Note: Enter debits before credits. Transaction General Journal Debit Credit Record the entry for Overhead costs applied to Work in Process Inventory. Note: Enter debits before credits Transaction General Journal General Journal Debit Debit Credit Credit Journal entry worksheet Record the cost of indirect materials used. Note: Enter debits before credits Transaction General Journal Debit Credit 41 Record the cost of factory utilities, paid in cash. Note: Enter debits before credits Transaction General Journal Debit Credit (2) Journal entry worksheet