Required information Problem 02-1A 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 $590,000, and factory payroll cost in April is $381,000. Overhead costs incurred in April are: indirect materials, $51,000; indirect labor, $26,000, factory rent, $39,000, factory utilities, $23,000, and factory equipment depreciation, $51,000. The predetermined overhead rate is 50% of direct labor cost Job 306 is sold for $695,000 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 $ 26,000 $ 42,000 23,000 13,e00 11,500 6,500 210,000 $110,000 134,000 materials 152 aaa ninart 1ahan 102 aaa 101 aaa materials 134,e0 210,0u0 3118,000 Che Direct labor 101,000 152,eee 102,000 Applied overhead Status on April 30 Finished (sold) Finished In (unsold) process Problem 02-1A Part 1 Required: 1. Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and the total cos assigned to each job (including the balances from March 31) Job 306 Job 307 Job 308 April Total From March 42,000 $ 68,000 Direct Materials 26,000 36,000 23,000 13,000 Direct Labor 6,500 18,000 11,500 Applied overhead C Beginning goods in process For April AnA Job 306 Job 307 Job 308 April Total From March Direct Materials 26,000 S 42,000 $ 68,000 Direct Labor 23,000 13,000 36,000 Applied overhead 11,500 6,500 18,000 Beginning goods in process $ 0 For April Direct Materials 134,000 210,000 110,000 454,000 Direct Labor 101,000 152,000 102,000 355,000 Applied overhead Total costs added in April 235,000 362,000 212,000 809,000 S 0 Total costs (April 30) Status on April 30 Finished (sold) Finished (unsold) In process