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 $550,000, and factory payroll cost in April is $380,000. Overhead costs incurred in April bre: Indirect materials, $54,000; Indirect labor, $28,000 factory rent, $37,000, factory utilities. $21,000, and factory equipment depreciation 558,000. The predetermined overhead rate is 50% of direct fabor cost. Job 306 is sold for $655,000 cash in April. Costs of the three jobs worked on in April follow Job 100 Job 107 Job 304 Balances on March 31 Direct materials $26.000 5 41,000 22,000 13,000 Applied overhead 6,500 Coate during Apel Direct materials 130.000 200,000 S105.000 Direct labor 101,000 150.000 101,000 Appland overhead 7 Statue on April 10 Finished (hold (unsold) process Diret labor Pinished IH 4-a, Compute gross profit for April 4-b. Show how to present the inventories on the April 30 balance sheet