Required information 14 [The following information applies to the questions displayed below] x Marcelino Co.'s March 31 inventory of raw materials is $85,000. Raw materials purchases in April are $500,000, and factory payroll cost in April is $387,000. Overhead costs incurred in April are: Indirect materials, $60,000; indirect labor, $30,000: factory rent, $37,000; factory utilities, $24,000; and factory equipment depreciation, $57,000. 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. Balances on March 31 Direct materials Direct labor Applied overhead Job 306 Job 387 Job 308 $27,000 $ 38,000 17,000 8,500 23,000 ances 11,500 Costs during April Direct materials 136,000 Direct labor 103,000 Applied overhead ? Finished Status on April 30 (sold) 220,000 151,000 7 Finished (unsold) $115,000 103,000 In process Ch