Required information [The following information applies to the questions displayed below.] Marcelino Co's March 31 inventory of raw materials is $87,000. Raw materials purchases in April are $560,000 and factory payroll cost in April is $375,000. Overhead costs incurred in April are: indirect materials, $54,000; indirect labor, $24,000; factory rent, $37,000; factory utilities, $25,000; and factory equipment depreciation, $55,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $675,000 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 $ 26,000 43,000 16,000 8,000 23,000 11,500 Costs during April Direct materials Direct labor Applied overhead 133,000 100,000 215,000 110,000 100,000 151,000 Finished (sold) Finished Status on April 30 (unsold) process 4.2 Show how to present the inventories on the April 30 balance sheet Inventories Raw materials Work in process Finished goods Total inventories