[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 $500,000, and factory payroll cost in April is $363,000. Overhead costs incurred in April are: indirect materials, $50,000; indirect labor, $23,000; factory rent, $32,000; factory utilities, $19.000; and factory equipment depreciation, $51,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 cash in April. Costs of the three jobs worked on in April follow Job 306 Job 307 Job 308 Balances on March 31 Direct materials $ 29,000 $ 35,000 Direct labor 20,000 18,000 Applied overhead 10,000 9,000 Costs during April Direct materials 135,000 220,000 $100,000 Direct labor 85,000 150,000 105,000 Applied overhead Finished Finished Status on April 30 (sold) (unsold) process 7 In 3. Prepare a schedule of cost of goods manufactured, MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs Total cost of work in process 0 Cost of goods manufactured $ 0 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 $500,000, and factory payroll cost in April is $363,000. Overhead costs incurred in April are: indirect materials, $50,000; indirect labor, $23,000; factory rent, $32,000; factory utilities, $19.000; and factory equipment depreciation, $51,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 cash in April. Costs of the three jobs worked on in April follow Job 307 Job 308 Job 386 $ 29,000 20,000 10,000 $ 35,000 18,000 9,000 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 135,000 85,000 ? Finished (sold) 220,000 150,000 ? Finished (unsold) $100,000 105,000 ? In process 4.1 Compute gross profit for April. Gross Profit