Marco Company shows the following costs for three jobs worked on in April.

Additional Information

a$.$ Raw Materials Inventory has a March $31$ balance of $$87,200.$

b$.$ Raw materials purchases in April are $$518,000,$ and total factory payroll cost in April is $$381,000.$

c$.$ Actual overhead costs incurred in April are indirect materials, $$54,500$; indirect labor, $$27,500$; factory rent, $$36,500$;

factory utilities, $$23,500$; and factory equipment depreciation, $$55,500.$

d$.$ Predetermined overhead rate is $50\%$ of direct labor cost.

e$.$ Job $306$ is sold for $$653,000$ cash in April.

Problem $2-2$A $($Algo$)$ Part $5$

$5-$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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Compute gross profit for April.