Required information 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 $520,000, and factory payroll cost in April is $382,000. Overhead costs incurred in April are: indirect materials, $53,000; indirect labor, $24,000; factory rent, $39,000, factory utilities, $21,000; and factory equipment depreciation, $60,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $695,000 cash in April. Costs of the three jobs worked on in April follow. Tob 306 Job 307 Job 308 s 28,000 37,000 Balances on March 31 Direct raterials Direct labor Applied overhead 16,000 24,000 12,000 8,000 Costs during April 215,000 $110,000 155,000 102,000 Direct materials Direct labor Applied overhead Status on April 30 134,000 101,000 Finished Finished In (sold) (unsold) process