Problem 15-1A 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 $81,000. Raw materials purchases in April are $500,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $55,000; indirect labor, $26,000; factory rent, $34,000; factory utilities, $23,000; and factory equipment depreciation, $53,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $670,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials $ 27,000 23,000 11,500 $ 37,000 13,000 6,500 136,000 210,000 $110,000 Direct labor 102,000 154,000 103,000 Applied overhead ? ? ? Finished Status on April 30 (sold) Finished (unsold) In process