Required information [The following information applies to the questions displayed below.) Marcelino Co.'s March 31 inventory of raw materials is $82,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $380,000. Overhead costs incurred in April are: indirect materials, $60,000; indirect labor, $24,000; factory rent, $31,000; factory utilities, $23,000; and factory equipment depreciation, $51,000. 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 $ 29,000 21,000 10,500 $ 40,000 13,000 6,500 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 136,000 100,000 ? Finished (sold) 200,000 154,000 ? Finished (unsold) $100,000 102,000 ? In process 4-a. Compute gross profit for April. 4-b. Show how to present the inventories on the April 30 balance sheet