[The following information applies to the questions displayed below] Marcelino Co.s March 31 inventory of raw materials is $81,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $387,000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $29,000; factory rent, $35,000; factory utilities, $19,000; and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $660,000 cash in April. Costs of the three jobs worked on in April follow. 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. Compute gross profit for April. [The following information applies to the questions displayed below] Marcelino Co.'s March 31 inventory of raw materials is $81,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $387,000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $29,000; factory rent, $35,000 : factory utilities, $19,000; and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $660,000 cash in April. Costs of the three jobs worked on in April follow. 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. Show how to present the inventories on the April 30 balance sheet. [The following information applies to the questions displayed below] Marcelino Co.s March 31 inventory of raw materials is $81,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $387,000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $29,000; factory rent, $35,000; factory utilities, $19,000; and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $660,000 cash in April. Costs of the three jobs worked on in April follow. 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. Compute gross profit for April. [The following information applies to the questions displayed below] Marcelino Co.'s March 31 inventory of raw materials is $81,000. Raw materials purchases in April are $560,000, and factory payroll cost in April is $387,000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $29,000; factory rent, $35,000 : factory utilities, $19,000; and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $660,000 cash in April. Costs of the three jobs worked on in April follow. 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. Show how to present the inventories on the April 30 balance sheet
