Required information Problem 2-1A Production costs computed and recorded; reports prepared LO C2, 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 $510,000, and factory payroll cost in April is $363,000. Overhead costs incurred in April are: indirect materials, $53,000; indirect labor, $22,000; factory rent, $38,000; 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 $640,000 cash in April. Costs of the three jobs worked on in April follow Job 306 Job 307 Job 308 Balances on March 31 Direct materials Direct labor Applied overhead 28,000 37,000 14,000 7,000 22,000 11,000 Costs during April 215,000 $110,000 105,000 Direct materials Direct labor Applied overhead Status on April 30 139,000 105,000 153,000 Finished (sold) Finished (unsold) process roblem 2-1A Part 2