Marcelino Co.'s March 31 inventory of raw materials is $90,000. Raw materials purchases in April are $520,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $26,000; factory rent, $33,000; factory utilities, $22,000; and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $690,000 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		$	29,000			$	43,000
Direct labor			24,000				17,000
Applied overhead			12,000				8,500
Costs during April
Direct materials			132,000				205,000			$	110,000
Direct labor			102,000				155,000				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.