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Required information [The following information applies to the questions displayed below] Marcelino Co.'s March 31 inventory of raw materials is $80,000. Raw materials purchases in April are $570,000, and factory payroll cost in April is $390,000. Overhead costs incurred in April are indirect materials, $59,000 indirect labor, $28,000; factory rent, $34,000; factory utilities. $21,000; and factory equipment depreciation, $52,000. 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 386 Job 307 Job 388 Balonces on March 31 Direct materials $ 27,000 $ 38,000 Direct labor 25,000 14,000 lied overhead 12,500 7,000 Costs during April Direct materials 133,000 205,000 $110,000 Direct labor 103,000 154,000 105,000 Applied overhead ? ? 2 Finished Finished In Status on April 30 (sold) (unsold) process 4-a. Compute gross profit for April. 4-b. Show how to present the inventories on the April 30 balance sheet. 74F A N o 2 arch Complete this question by entering your answers in the tab Required 4A Required 4B Compute gross profit for April. Gross profit