Required Information [The following information applies to the questions displayed below.) Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $379,000. Overhead costs incurred in April are: indirect materials, $50,000; indirect labor, $23,000; factory rent, $35,000; factory utilities, $22,000; and factory equipment depreciation, $60,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $670,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $ 28,000 24,000 12,000 $ 37,000 17,000 8,500 I Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 131,000 102,000 ? Finished (sold) 205,000 154,000 ? Finished (unsold) $115,000 100,000 ? In process Required: 1. Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from March 31). Required: 1. Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from March 31). Answer is complete but not entirely correct. Job 306 Job 307 Job 308 April Total From March $ 28,000 $ 37,000 $ 65,000 24,000 17,000 12,000 8,500 41,000 20,500 126,500 $ 64,000 $ 62,500 $ 0 $ Direct Materials Direct Labor Applied overhead Beginning goods in process For April Direct Materials Direct Labor Applied overhead Total costs added in April 451,000 356,000 131,000 102,000 76,000 X 309,000 205,000 154,000 71,000 X 430,000 115,000 100,000 76,000 X 291,000 223,000 1,030,000 Total costs (April 30) $ 373,000 X $ 492,500 X $ 291,000 X $ 1,156,500 Status on April 30 April 30 cost included in: Finished (sold) Cost of goods sold Finished (unsold) Finished goods inventory In process Work in process inventory