Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $81,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $381,000. Overhead costs incurred in April are: indirect materials, $57,000; indirect labor, $22,000; factory rent, $34,000; factory utilities, $23,000; and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $700,000 cash in April. Costs of the three jobs worked on in April follow. Balances on March 31 Job 306 Job 307 Job 308 Direct materials $ 25,000 Direct labor 23,000 Applied overhead 11,500 $ 35,000 15,000 7,500 Costs during April Direct materials. 137,000 Direct labor Applied overhead 104,000 2 Status on April 30 Finished (sold) 215,000 150,000 2 Finished $120,000 105,000 2 In (unsold) process 4-a. Compute gross profit for April. 4-b. Show how to present the inventories on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Required 4A Required 48 Compute gross profit for April. Gross profit Required &A Required 4B >