User's response: Winfrey Co.'s March 31 inventory of raw materials is $190,000. Raw materials purchases in April are $440,000, and factory payroll cost in April is $246,000. Overhead costs incurred in April are: indirect materials, $26,000; indirect labor, $14,000; factory rent, $22,000; factory utilities, $14,000; and factory equipment depreciation, $33,800. The predetermined overhead rate is 45% of direct labor cost. Job 306 is sold for $330,000 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 $ 17,000 $ 22,000 Direct labor 22,000 12,000 Applied overhead 9,900 5,400 Costs during April Direct materials 95,000 170,000 $ 75,000 Direct labor 36,000 66,000 130,000 Applied overhead ? ? ? Status on April 30 Finished (sold) Finished (unsold) In process 4. value: 10 points 4.1 Compute gross profit for April. (Omit the "$" sign in your response.) Gross profit $ 4.2 Show how to present the inventories on the April 30 balance sheet. (Omit the "$" sign in your response.) Inventories Raw materials $ Goods in process (Job 308) Finished goods (Job 307) Total inventories $