Required information The following information applies to the questions displayed below.) Marcelino Co.'s March 31 inventory of raw materials is $81000. Raw materials purchases in April are $570,000, and factory payroll cost in April is $380,000. Overhead costs incurred in April are indirect materials, $57,000; indirect labor, $21,000, factory rent, $30,000; factory utilities, $23,000, 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 3062 Job 308 Balonces on March 31 Direct materials $ 30,000 $ 42,000 Direct Labor 23,000 18,000 Applied overhead 11,500 9,000 Costs during April Direct materials 133,000 215.000 Direct labor 155,000 100,000 Appl Led overhead Finished Finished Status on April 10 (10) (unsold) In process $105,000 104,000 4.1 Compute gross profit for April. Gross Profit 4.2 Show how to present the inventories on the April 30 balance sheet. Inventories Raw materials Work in process Finished goods Total inventories