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 $88,000. Raw materials purchases in April are $500,000, and factory payroll cost in April is $383,000. Overhead costs incurred in April are: indirect materials, $56,000; indirect labor, $25,000; factory rent, $31,000; factory utilities, $20,000; and factory equipment depreciation, $53,000. 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 $ 30,000 $ 44,000 23,000 17,000 11,500 8,500 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 139,000 205,000 $100,000 101,000 154,000 103,000 ? ? Finished (sold) ? Finished (unsold) 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 April Total $ $ 30,000 23,000 11,500 44,000 17,000 8,500 $ 74,000 40,000 20,000 $ 0 From March Direct Materials Direct Labor Applied overhead Beginning goods in process For April Direct Materials Direct Labor Applied overhead Total costs added in April Total costs (April 30) 139,000 101,000 205,000 154,000 100,000 103,000 444,000 358,000 0 240,000 359,000 203,000 802,000 $ 0 Finished (sold) Finished (unsold) In process Status on April 30 April 30 cost included in