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Marco Company shows the following costs for three jobs worked on in April. Job 3 0 6 Job 3 0 7 Job 3 0 8

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) $ 29,000 $ 35,000
Direct labor used (in March)20,00018,000
Overhead applied (March)10,0009,000
Costs during April
Direct materials used 135,000220,000 $ 100,000
Direct labor used 85,000150,000105,000
Overhead applied ?question mark ?question mark ?question mark
Status on April 30 Finished (sold) Finished (unsold) In process
Additional Information
Raw Materials Inventory has a March 31 balance of $80,000.
Raw materials purchases in April are $500,000, and total factory payroll cost in April is $363,000.
Actual overhead costs incurred in April are indirect materials, $50,000; indirect labor, $23,000; factory rent, $32,000; factory utilities, $19,000; and factory equipment depreciation, $51,000.
Predetermined overhead rate is 50% of direct labor cost.
Job 306 is sold for $635,000 cash in April.
5-a. Compute gross profit for April.
5-b. Show how the three inventory accounts are reported on the April 30 balance sheet.

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