Saved Required information (The following information applies to the questions displayed below.) Marcelino Co.'s March 31 inventory of raw materials is $80,000. Raw materials purchases in April are $540,000, and factory payroll cost in April is $374,000. Overhead costs incurred in April are: indirect materials, $59,000; Indirect labor. $22,000; factory rent, $40,000; factory utilities, $24,000; and factory equipment depreciation, $52,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $675,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $ 27,000 22,000 11,000 $ 43,000 14,000 7,000 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 138,000 101,000 215,000 151,000 $110,000 100,000 Finished (sold) Pinished (unsold) process 4-a. Compute gross profit for April. 4-b. Show how to present the inventories on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Status on April 30 (sold) (unsold) In process 4-a. Compute gross profit for April. 4-b. Show how to present the inventories on the April 30 balance sheet. Complete this question by entering your answers in the tabs below. Required 4A Required 4B ces Compute gross profit for April. Gross profit Required information Transaction No 1 General Journal Credit Raw materials inventory Accounts payable Debit 540,000 540,000 Work in process inventory Raw materials inventory 463,000 463.000 Work in process inventory Cash 352,000 352,000 Factory overhead Cash 22,000 . 22,000 5 Work in process inventory Factory overhead f(1). Factory overhead Raw materials inventory 59,000 59,000 7 (2). Factory overhead 24,000 Required information Cash 24,000 f(3). 52,000 Factory overhead Accumulated depreciation factory equipment 52,000 40,000 Factory overhead Cash 40,000 2 10 9. Finished goods inventory Work in process inventory 11 349,500 Cost of goods sold Finished goods inventory 349,500 675,000 Cash Sales 675,000 Cost of goods sold Factory overhead