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) $ 31, 800 $ 37, 800 Direct labor used (in March) 22, 800 20, 800 Overhead applied (March) 12, 800 11, 800 Costs during April Direct materials used 142, 000 227, 000 $ 107,000 Direct labor used 87, 806 157, 000 112, 000 Overhead applied ? Status on April 30 Finished Finished (sold) (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $82,800. b. Raw materials purchases in April are $507,000, and total factory payroll cost in April is $370,000. c. Actual overhead costs incurred in April are indirect materials, $51,750; indirect labor, $24,750; factory rent, $33,750; factory utilities, $20,750; and factory equipment depreciation, $52,750. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $642,000 cash in April. 2. Determine the total cost assigned to each job as of April 30 (including the balances from March 31). Job 306 Job 307 Job 308 April Total March Direct materials $ 31,800 $ 37,800 Direct labor 22,800 20,800 Overhead applied 12,800 11,800 Work in process, beginning $ April Direct materials 42,000 227,000 107,000 476,000 Direct labor 87,800 157,000 112,000 356,800 Overhead applied Costs added in April 229.800 384.000 219.000 832.800 Total costs $ Status on April 30 Finished (sold) Finished (unsold) In process April 30 cost included in: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) $ 31, 800 $ 37, 800 Direct labor used (in March) 22, 800 20, 800 Overhead applied (March) 12, 800 11, 800 Costs during April Direct materials used 142, 000 227, 090 $ 107, 000 Direct labor used 87, 800 157, 006 112, 000 Overhead applied Status on April 30 Finished Finished (sold) (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $82,800. b. Raw materials purchases in April are $507,000, and total factory payroll cost in April is $370,000. C. Actual overhead costs incurred in April are indirect materials, $51,750; indirect labor, $24,750; factory rent, $33,750; factory utilities, $20,750; and factory equipment depreciation, $52,750. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $642,000 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 e. Indirect labor used (and paid in cash) and assigned to Factory Overhead. f. Overhead costs applied to Work in Process Inventory. g. Actual other overhead costs incurred (Factory rent and utilities are paid in cash.) h. Transfer of Jobs 306 and 307 to Finished Goods Inventory. i. Cost of goods sold for Job 306. J. Revenue from the sale of Job 306 received in cash. k. Close underapplied or overapplied overhead to the Cost of Goods Sold account. 3. Prepare journal entries for the month of April to record the above transactions.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) $ 31, 800 $ 37, 800 Direct labor used (in March) 22, 800 20, 800 Overhead applied (March) 12, 800 11, 800 Costs during April Direct materials used 142, 000 227, 000 $ 107, 000 Direct labor used 87, 800 157, 090 112, 000 Overhead applied 7 Status on April 30 Finished Finished (sold) ( unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $82,800. b. Raw materials purchases in April are $507,000, and total factory payroll cost in April is $370,000. c. Actual overhead costs incurred in April are indirect materials, $51,750; indirect labor, $24,750; factory rent, $33,750; factory utilities, $20,750; and factory equipment depreciation, $52,750. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $642,000 cash in April. 4. Prepare a schedule of cost of goods manufactured for the month ended April 30. MARCO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs Total cost of work in process Cost of goods manufactured $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) $ 31, 800 $ 37, 800 Direct labor used ( in March) 22, 800 20, 800 Overhead applied (March) 12, 800 11, 800 Costs during April Direct materials used 142, 000 227, 000 $ 107, 000 Direct labor used 87, 800 157, 000 112, 000 Overhead applied ? ? ? Status on April 30 Finished Finished (sold) (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $82,800. b. Raw materials purchases in April are $507,000, and total factory payroll cost in April is $370,000. c. Actual overhead costs incurred in April are indirect materials, $51,750; indirect labor, $24,750; factory rent, $33,750; factory utilities, $20,750; and factory equipment depreciation, $52,750. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $642,000 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