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[The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April.

	Job 306	Job 307	Job 308
Balances on March 31
Direct materials used (in March)	$ 31,000	$ 39,000
Direct labor used (in March)	25,000	15,000
Overhead applied (March)	12,500	7,500
Costs during April
Direct materials used	134,000	210,000	$ 120,000
Direct labor used	102,000	153,000	103,000
Overhead applied	?	?	?
Status on April 30	Finished (sold)	Finished (unsold)	In process

Additional Information

1. Raw Materials Inventory has a March 31 balance of $88,000.
2. Raw materials purchases in April are $550,000, and total factory payroll cost in April is $380,000.
3. Actual overhead costs incurred in April are indirect materials, $60,000; indirect labor, $22,000; factory rent, $39,000; factory utilities, $21,000; and factory equipment depreciation, $60,000.
4. Predetermined overhead rate is 50% of direct labor cost.
5. Job 306 is sold for $635,000 cash in April.

5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 balance sheet.

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Complete this question by entering your answers in the tabs below. Compute gross profit for April. Show how the three inventory accounts are reported on the April 30 balance sheet