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) $ 32,000 $ 43,000 Direct labor used (in March) 20,008 19,080 Overhead applied (March) 10,008 9,508 Costs during April Direct materials used 138, 000 215, 008 $ 115, 000 Direct labor used 101,008 151, 000 101, 000 Overhead applied ? ? Finished Finished Status on April 30 (sold) (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $88,000. b. Raw materials purchases In April are $560,000, and total factory payroll cost In April Is $380,000. c. Actual overhead costs Incurred In April are Indirect materials, $55,000; Indirect labor, $27,000; factory rent, $32,000; factory utilities, $23,000; and factory equipment depreciation, $55,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $655,000 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 S 32.000 S 43,000 Direct labor 20.000 19.000 Overhead applied 10.000 9.500 Work in process, beginning April Direct materials 138.000 215,000 115,000 468.000 Direct labor 101.000 151,000 101,000 353.000 Overhead applied Costs added in April Total costs Status on April 30 Finished (sold) Finished (unsold) In process April 30 cost included in: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. 1. 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