The following information applies to the questions displayed below. Marcelino Co's March 31 inventory of raw materials is $83,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $383,000. Overhead costs incurred in April are: indirect materials, $54,000; indirect labor $23,000; factory rent, $36,000; factory utilities, $19,000; and factory equipment depreciation, $52,000. 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 Balances on March 31 Direct materials Direct labor Applied overhead s 27,000 44,000 15,000 7,500 21,000 10,500 Costs during April Direct materials Direct labor Applied overhead Status on April 30 135,000 220, 000 $110,000 153,000 104,000 103,000 Finished Finished In (sold) (unsold) process 4.1 Compute gross profit for April. Gross Profit