Required information [The following information applies to the questions displayed below.) Marcelino Co.'s March 31 Inventory of raw materials is $87,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $382,000. Overhead costs incurred in April are: Indirect materials, $57,000; Indirect labor, $22,000; factory rent, $32,000; factory utilities, $22,000, and factory equipment depreciation, $54,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $645,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 Balances on March 31 Direct materials $ 30,000 $ 43,000 Direct labor 25,000 17,000 Applied overhead 12,500 Costs during April 8,500 Direct materials 133,000 210,000 $115,000 Direct labor 184,000 153,000 103,000 Applied overhead 7 ? 2 Status on April 30 Finished Finished In (sold) (unsold) process 3. Prepare a schedule of cost of goods manufactured, Answer is complete but not entirely correct. MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Direct materials used $ 458,000 Direct labor used 360,000 Factory overhead applied 180,000 Total manufacturing costs 998,000 Add: Work in process March 31 269,500 Total cost of work in process 1,267,500 Less: Work in process April 30 1,134,000 Cost of goods manufactured $ 133,500