Marco Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials used (in March) $ 30,000 Direct labor used (in March) 25,000 $ 36,000 18,000 Overhead applied (March) 12,500 9,000 Costs during April Direct materials used Direct labor used Overhead applied 134,000 101,000 ? Status on April 30 Additional Information 215,000 $ 105,000 150,000 102,000 ? ? Finished Finished (sold) (unsold) In process a. Raw Materials Inventory has a March 31 balance of $89,000. b. Raw materials purchases in April are $530,000, and total factory payroll cost in April is $377,000. c. Actual overhead costs incurred in April are indirect materials, $56,000; indirect labor, $24,000; factory rent, $37,000; factory utilities, $24,000; and factory equipment depreciation, $61,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $695,000 cash in April. a. Materials purchases (on credit). b. Direct materials used. c. Direct labor used (and paid in cash) and assigned to Work in Process Inventory. d. Indirect materials used and assigned to Factory Overhead. e. Indirect labor used (and paid in cash) and assigned to Factory Overhead. f. Overhead costs applied to Work in Process Inventory. g. Actual other overhead costs incurred (Factory rent and utilities are paid in cash.) h. Transfer of Jobs 306 and 307 to Finished Goods Inventory. i. Cost of goods sold for Job 306. j. Revenue from the sale of Job 306 received in cash. k. Close underapplied or overapplied overhead to the Cost of Goods Sold account. 3. Prepare journal entries for the month of April to record the above transactions. View transaction liet Che 14 Part 3 of 5 1.12 points Skipped eBook a. Materials purchases (on credit). b. Direct materials used. c. Direct labor used (and paid in cash) and assigned to Work in Process Inventory. d. Indirect materials used and assigned to Factory Overhead. e. Indirect labor used (and paid in cash) and assigned to Factory Overhead. f. Overhead costs applied to Work in Process Inventory. g. Actual other overhead costs incurred (Factory rent and utilities are paid in cash.) h. Transfer of Jobs 306 and 307 to Finished Goods Inventory. i. Cost of goods sold for Job 306. j. Revenue from the sale of Job 306 received in cash. k. Close underapplied or overapplied overhead to the Cost of Goods Sold account. 3. Prepare journal entries for the month of April to record the above transactions. Print References View transaction list 1 Record the entry for material purchased on credit. 2 Record the direct materials used in production. 3 Record the direct labor (paid in cash). 4 Record the indirect materials used. 5 Record the indirect labor (paid in cash). 6 Record the application of overhead costs. 7 Record the actual other overhead costs incurred (Factory rent and utilities are paid in cash.) i Note : journal entry has been entered Record entry Clear entry EX 11 Credit View general jou