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, $60,000; indirect labor, $29,000; factory rent, $34,000; factory utilities, $23,000; and factory equipment depreciation, $58,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $665,000 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 $ 28,000 $ 38,000 Direct labor 21,000 18,000 Applied overhead 10,500 9,000 Costs during April Direct materials 137,000 215,000 $ 110,000 Direct labor 104,000 152,000 100,000 Applied overhead ? ? ? Status on April 30 Finished (sold) Finished (unsold) In process