Required information Problem 15-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 1' The following information applies to the questions displayed below. ,7 Marco Company shows the following costs for threejobs worked on in April. Job 396 Job 387 Job 368 Balances on March 31 Direct materials used (in March) $ 31,666 $ 36,666 Direct labor used (in March) 22,666 15,666 Overhead applied (March) 11,666 7,566 Costs during April Direct materials used 139,666 215,666 $ 126,666 Direct labor used 162,666 154,666 164,666 Overhead applied ? ? ? Finished Finished Status on April 36 In process (sold) (unsold) Additional Information 3. Raw Materials Inventory has a March 31 balance of $87,000. b. Raw materials purchases in April are $550,000, and total factory payroll cost in April is $382,000. c. Actual overhead costs incurred in April are indirect materials, $57,000; indirect labor, $22,000; factory rent; $34,000; factory utilities, $24,000; and factory equipment depreciation, $58,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $695,000 cash in April. Problem 15-2A (Algo) Part 3 3. Materials purchases {on credit). in. Direct materials used. c. Direct labor used (and paid in cash) and assigned to Work in Process Inventory. d. Indirect materials used and assigned to Factory Overhead. e. Indirect labor used (and paid in cash) and assigned to Factory Overhead. f. Overhead costs applied to Work in Process Inventory. g. Actual other overhead costs incurred (Factory rent and utilities are paid in cash.) h. Transfer of Jobs 306 and 307 to Finished Goods Inventory. i. Cost of goods sold for Job 306. j. Revenue from the sale ofJob 306 received in cash. k. Close underapplied or overapplied overhead to the Cost of Goods Sold account. 3. Preparejournal entries for the month of April to record the above transactions