Required information [The following information applies to the questions displayed below.] Marcelino Co.'s March 31 inventory of raw materials is $86,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $378,000. Overhead costs incurred in April are: indirect materials, $53,000; indirect labor, $21,000; factory rent, $34,000; factory utilities, $24,000; and factory equipment depreciation, $55,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $695,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $ 30,000 24,000 12,000 $ 39,000 17,000 8,500 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead 131,000 102,000 ? Finished (sold) 210,000 151,000 ? Finished (unsold) $115,000 104,000 ? In Status on April 30 process 4-a. Compute gross profit for April. 4-b. Show how to present the inventories on the April 30 balance sheet