! Required information 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 $84,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $386,000. Overhead costs incurred in April are: indirect materials, $51,000; indirect labor, $27,000; factory rent, $31,000; factory utilities, $25,000; and factory equipment depreciation, $51,000. 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 $ 29,000 Direct labor Applied overhead 23,000 11,500 $ 45,000 15,000 7,500 Costs during April Direct materials 138,000 210,000 $115,000 Direct labor 103,000 Applied overhead Status on April 30 ? Finished (sold) 152,000 ? Finished (unsold) 104,000 ? In process Problem 15-1A Part 1 Required: 1. Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from March 31). Job 306 Job 307 Job 308 From March Direct Materials $ 29,000 $ Direct Labor 23,000 Applied overhead 11,500 45,000 15,000 7,500 Beginning goods in process April Total $ 74,000 38,000 19,000 $ 0 For April Direct Materials 138,000 210,000 115,000 463,000 Direct Labor 103,000 152,000 104,000 359,000 Applied overhead Total costs added in April 241,000 362,000 Total costs (April 30) Status on April 30 Finished (sold) Finished (unsold) In process April 30 cost included in: 219,000 822,000 0