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 $87,000. Raw materials purchases in April are $540,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $54,000; indirect labor, $29,000; factory rent, $35,000; factory utilities, $24,000; and factory equipment depreciation, $54,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $660,000 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 $ 31,000 $ 35,000 Direct labor 23,000 14,000 Applied overhead 11,500 7,000 Costs during April Direct materials 134,000 205,000 $110,000 Direct labor Applied overhead 104,000 ? 152,000 100,000 Status on April 30 Finished (sold) ? Finished (unsold) ? In process