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Required information

$[$The following information applies to the questions displayed below.$]$

Marcelino Co$.\text{'}$s March $31$ inventory of raw materials is $$87,000.$ Raw materials purchases in April are $$510,000,$ and factory payroll cost in April is $$388,000.$ Overhead costs incurred in April are: indirect materials, $$59,000$; indirect labor, $$27,000$; factory rent, $$35,000$; factory utilities, $$20,000$; and factory equipment depreciation, $$52,000.$ The predetermined overhead rate is $50\%$ of direct labor cost. Job $306$ is sold for $$700,000$ cash in April. Costs of the three jobs worked on in April follow.

$\backslash$table$[[,$Job $306,$Job $307,$Job $308],[$Balances on March $31,,,],[$Direct materials,$$26,000,$$$43,000,],[$Direct labor,$23,000,16,000,],[$Applied overhead,$11,500,8,000,],[$Costs during April,,,$],[$Direct materials,$134,000,210,000,$$$115,000$

$$ 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 $31).$

$2.$Materials purchases $($on credit$).$ Direct materials used in production. Direct labor paid and assigned to Work in Process Inventory. Indirect labor paid and assigned to Factory Overhead. Overhead costs applied to Work in Process Inventory. Actual overhead costs incurred, including indirect materials. $($Factory rent and utilities are paid in cash.$)$ Transfer of Jobs $306$ and $307$ to Finished Goods Inventory. Cost of goods sold for Job $306.$ Revenue from the sale of Job $306.$ Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. $($The amount is not material.$)$

$*$ Prepare journal entries for the month of April to record the above transactions.

$3.$ Prepare a schedule of cost of goods manufactured.

$4-$a$.$ Compute gross profit for April. $4-$b$.$ Show how to present the inventories on the april $30$ balance sheet.