Required information (The following information applies to the questions displayed below) Marcelino Co's March 31 inventory of raw materials is $89,000. Raw materials purchases in April are $590,000, and factory payroll cost in April is $377,000. Overhead costs incurred in April are: indirect materials, $51,000; indirect labor, $26,000; factory rent, $34,000; factory utilities, $21,000; and factory equipment depreciation, $59,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $665,000 cash in April . Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $ 32,000 20,000 10,000 $ 36,000 17,000 8,500 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 $100,000 101,000 137,000 100,000 2 Finished (sold) 210,000 150,000 ? Finished (unsold) In process 4.1 Compute gross profit for April Gross Profit