Reg 5A Req 58 Show how the three inventory accounts are reported on the April 30 balance sheet. Inventories Raw materials Work in process Finished goods Total inventoriesRequired Information [The following Information applies to the questions displayed below] Marco Company shows the following costs for three jobs worked on In April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials used (in March) $ 36, 200 $ 42, 200 Direct labor used (in March) 27, 200 25, 200 Overhead applied (March) 17, 200 16, 200 costs during April Direct materials used 153, 080 238, 060 $ 118, 060 Direct labor used 92, 206 168, 090 123, 096 Overhead applied status on April 36 Finished Finished (sold) (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $87,200. b. Raw materials purchases In April are $518,000, and total factory payroll cost In April Is $381,000. c. Actual overhead costs Incurred in April are Indirect materials, $54,500; Indirect labor, $27,500; factory rent, $36,500; factory utilities, $23,500; and factory equipment depreciation, $55,500. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $653,000 cash In April. 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Req 5A Req 58 Compute gross profit for April. Gross profit