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 $80,000. Raw materials purchases in April are $520,000, and factory payroll cost in April is $377,000. Overhead costs incurred in April are: indirect materials, $59,000; indirect labor, $21,000; factory rent, $31,000; factory utilities, $22,000; and factory equipment depreciation, $57,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 cash in April. Costs of the three jobs worked on in April follow. Balances on March 31 $ 28,000 Job 306 Job 307 Job 308 Direct materials $43,000 Direct labor Applied overhead 23,000 11,500 13,000 6,500 Costs during April Direct materials 138,000 215,000 $110,000 Direct labor 104,000 Applied overhead 151,000 101,000 2 2 Finished Status on April 30. (sold) Finished (unsold) In process