! Required information [The following information applies to the questions displayed below) Marcelino Co's March 31 inventory of raw materials is $84,000, Raw materials purchases in April are $570,000, and factory payroll cost in April is $389,000. Overhead costs incurred in April are: Indirect materials, $59,000; indirect labor, $29,000; factory rent, $39,000; factory utilities, $21,000; and factory equipment depreciation, $53,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 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 $ 27,000 $ 37,000 Direct labor 22,000 Applied overhead 11,000 9,500 Costs during April Direct materials 136,000 210,000 104,000 Applied overhead Finished Status on April 30 (sold) (unsold) ook 19,000 int rences Direct labor 154,000 ? $105,000 102,000 2 In process Finished 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 $ $ From March Direct Materials Direct Labor Applied overhead Beginning goods in process 27.000 22.000 11,000 37,000 19,000 9,500 $ 64,000 41,000 20,500 For April 136,000 104,000 210,000 154.000 105,000 102,000 451,000 360.000 Direct Materials Direct Labor Applied overhead Total costs added in April Total costs (April 30) Finished (sold) Finished (unsold) In process Status on April 30 April 30 cost included in 2. Prepare journal entries for the month of April to record the above transactions. View transaction list Journal entry worksheet 4-a. Compute gross profit for April. 4-b. Show how to present the inventories on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Required 4A Required 48 Show how to present the inventories on the April 30 balance sheet. Inventories Raw materials Work in process Finished goods Total inventories