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 $550,000, and factory payroll cost in April is $380,000. Overhead costs incurred in April are: Indirect materials, $54,000, indirect labor. $22,000, factory rent, $31.000, factory utilities, $24,000, and factory equipment depreciation, $61,000. The predetermined overhead rate is 50% of direct lobor cost Job 306 is sold for $655,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 388 Balances on March 31 Direct materials $ 28,000 $ 41,000 Direct labor 25,000 18,000 Applied overhead 12,500 9,000 Costs during April Direct materials 136,000 215,000 $110,000 Direct labor 184,080 150,000 184,098 Applied overhead Finished Finished In Status on April 30 (sold) (unsold) process .. Materials purchases (on credit) b. Direct materials used in production c. Direct labor paid and assigned to Work in Process Inventory d. Indirect labor paid and assigned to Factory Overhead e Overhead costs applied to Work in Process Inventory f. Actual overhead costs incurred, including indirect materials. (Factory rent and utilities are paid in cash) 9. Transfer of Jobs 306 and 307 to Finished Goods Inventory h. Cost of goods sold for Job 306 L. Revenue from the sale of Job 306 J. Astignment of any underapplied or overapplied overhead to the Cost of Goods Sold account (The amount is not material) 2. Prepare journal entries for the month of April to record the above transactions. Journal entry worksheet Record the entry for assignment of any underapplied or overapplied overhead to the Cost of Goods Sold. Note: Enter debits before credits. General Journal Debit Credit Transaction j Record entry Clear entry View general journal