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 $550,000, and factory payroll cost in April is $378.000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor. $21,000; factory rent, $32,000; factory utilities, $22,000; and factory equipment depreciation. $55,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $670,000 cash in April. Costs of the three jobs worked on in April follow, Job 396 Job 307 Job 308 Balances on March 31 Direct materials $ 30,000 $ 37,000 Direct labor 17,000 Applied overhead Costs during April 140,000 215,000 Applied overhead 23,000 11,500 3,500 Direct materials Direct labor $100,000 103,000 101,000 153,000 Finished Finished In Required: 1. Determine the total of each production cost incurred for April (direct labor direct materials, and applied overhead), and the total assigned to each job (including the balances from March 31) S S From March Direct Materials Drect Labor Applied overhead Beginning goods in process For April Direct Materials Direct Labor Applied overhead 30,000 23.000 11,500 64 500 37 000 17 000 8,500 62,500 67,000 40,000 20,000 127,000 0 $ 140,000 101,000 50,500 215,000 153,000 76,500 100,000 103,000 51,500 455,000 357,000 178,500 Required information $ $ 30,000 23,000 11,500 64,500 37,000 17,000 8,500 62,500 67,000 40,000 20,000 127,000 $ $ 0 S From March Direct Materials Direct Labor Applied overhead Beginning goods in process For April Direct Materials Direct Labor Appled overhead Total costs added in April d 140,000 101,000 50,500 291,500 215,000 153,000 76,500 444,500 100,000 103,000 51,500 254,500 455,000 357.000 178,500 990,500 Total costs (April 30) $ 356 000 $ 501,000 X S 254,500 $ 1,111,500 Status on April 30 April 30 cost included in Finished (sold) Cost of goods sold Finished (unsold) Finished goods inventory In process Work in process inventory 4-0. Compute gross profit for April 4-6. Show how to present the inventories on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Required 4A Required 48 Compute gross profit for April Gross profil $314.000 4-a. Compute gross profit for April 4-b. Show how to present the inventories on the Aprili 30 balance sheet. Complete this question by entering your answers in the tabs below. Required 4 Required 48 Show how to present the inventories on the April 30 balance sheet. $ 122.000 Raw materials Work in process Finished goods Total inventorios 254,500 291,750 668.250 > > 5