[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 $391,000. Overhead costs incurred in April are: indirect materials, $51,000; indirect labor, $30,000; factory rent, $38,000; factory utilities, $23,000; and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor 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 308 $ 29,000 20,000 10,000 $ 38,000 18,000 9,000 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead 138,000 105,000 200,000 151,000 ? $ 120,000 105,000 ? ? Status on April 30 Finished (sold) Finished (unsold) In process Required: 1. Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from March 31). Job 306 Job 307 Job 308 April Total From March Direct Materials 29,000 $ 38,000 67,000 Direct Labor 20,000 18,000 38,000 19,000 Applied overhead 10,000 9,000 59,000 $ 65,000 $ 124,000 Beginning goods in process For April Direct Materials Direct Labor Applied overhead Total costs added in April Total costs (April 30) Status on April 30 April 30 cost included in: 138,000 200,000 120,000 105,000 151,000 105,000 52,500 75,500 52,500 295,500 426,500 277,500 $ 354,500 $ 491,500 $ 277,500 $ Finished (sold) Finished (unsold) In process Cost of goods sold Finished goods inventory Work in process inventory 458,000 361,000 180,500 999,500 1,123,500 a. 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.) g. Transfer of Jobs 306 and 307 to Finished Goods Inventory. h. Cost of goods sold for Job 306. i. Revenue from the sale of Job 306. j. Assignment 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. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 13 > Record the entry for Materials purchases (on credit). Note: Enter debits before credits. Transaction General Journal Debit Credit a