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 $85,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $382,000. Overhead costs incurred in April are: indirect materials, $55,000; indirect labor, $25,000; factory rent, $31,000; factory utilities, $24,000; and factory equipment depreciation, $60,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $690,000 cash in April. Costs of the three jobs worked on in April follow. Balances on March 31. Job 306 Job 307 Job 308 Direct materials. $ 31,000 Direct labor 24,000 Applied overhead? 12,000 $ 37,000 16,000 8,000 Costs during April Direct materials 138,000 210,000 $100,000 Direct labor Applied overhead 102,000 2 Status on April 30 Finished (sold) 154,000 2 Finished (unsold) 101,000) 2 In process