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) Direct labor used (in March) Overhead applied (March) $ 26,000 22,000 11,000 $ 37,000 15,000 7,500 Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 137,000 105,000 D 220,000 155,000 ? $ 100,000 105,000 Finished (sold) Finished (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $82,000. b. Raw materials purchases in April are $550,000, and total factory payroll cost in April is $391,000. c. Actual overhead costs incurred in April are indirect materials, $58,000; indirect labor, $26,000; factory rent, $38,000; factory utilities, $20,000; and factory equipment depreciation, $58,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $695,000 cash in April. a. Materials purchases (on credit). b. Direct materials used. c. Direct labor used (and paid in cash) and assigned to Work in Process Inventory. d. Indirect materials used and assigned to Factory Overhead.