Required Information [The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials used (in March) $ 26,000 Direct labor used (in March) Overhead applied (March) 23,000 11,500 $ 44,000 15,000 7,500 Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 130,000 103,000 ? 205,000 152,000 ? $ 105,000 104,000 ? Finished (sold) Finished (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $81,000. b. Raw materials purchases in April are $570,000, and total factory payroll cost in April is $384,000. c. Actual overhead costs incurred in April are indirect materials, $56,000; indirect labor, $25,000; factory rent, $35,000; factory utilities, $22,000; and factory equipment depreciation, $57,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $640,000 cash in April. 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Req 5A Req 5B Compute gross profit for April. Gross profit $ 179,500 < Req 5A Req 5B > ! Required Information [The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Additional Information Job 386 Job 307 Job 308 $ 26,000 23,000 11,500 $ 44,000 15,000 7,500 130,000 103,000 ? Finished (sold) 205,000 $ 105,000 152,000 ? Finished (unsold) 104,000 ? In process a. Raw Materials Inventory has a March 31 balance of $81,000. b. Raw materials purchases in April are $570,000, and total factory payroll cost in April is $384,000. c. Actual overhead costs incurred in April are indirect materials, $56,000; indirect labor, $25,000; factory rent, $35,000; factory utilities, $22,000; and factory equipment depreciation, $57,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $640,000 cash in April. 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Req 5A Req 5B Show how the three inventory accounts are reported on the April 30 balance sheet. Inventories Raw materials $ 155,000 Work in process 261,000 Finished goods 321,000 Total inventories $ 737,000 < Req 5A Req 5B >