Problem 02-1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4 [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $500,000, and factory payroll cost in April is $384,000. Overhead costs incurred in April are: indirect materials, $52,000; indirect labor, $25,000; factory rent, $40,000; factory utilities, $19,000; and factory equipment depreciation, $55,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $630,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $ 30,000 24,000 12,000 $ 41,000 18,000 9,000 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 135,000 103,000 ? Finished (sold) 220,000 155,000 ? Finished (unsold) $120,000 101,000 ? In process Record the entry for Materials purchases (on credit). Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record the direct materials used in production. Note: Enter debits before credits. Transaction General Journal Debit Credit b. Record the direct materials used in production. Note: Enter debits before credits. Transaction General Journal Debit Credit b. Record the Direct labor paid and assigned to Work in Process Inventory. Note: Enter debits before credits. Transaction General Journal Debit Credit C. Record the Direct labor paid and assigned to Work in Process Inventory. Note: Enter debits before credits. Transaction General Journal Debit Credit C. ........ Record the indirect labor paid and assigned to Factory Overhead. Note: Enter debits before credits. Transaction General Journal Debit Credit d. Record the entry for transfer of Jobs 306 and 307 to Finished Goods Inventory. Note: Enter debits before credits. Transaction General Journal Debit Credit g