Additional Information

a$.$ Raw Materials Inventory has a March $31$ balance of $$86,400.$

b$.$ Raw materials purchases in April are $$516,000,$ and total factory payroll cost in April is $$379,000.$

c$.$ Actual overhead costs incurred in April are indirect materials, $$54,000$; indirect labor, $$27,000$; factory rent, $$36,000$;

factory utilities, $$23,000$; and factory equipment depreciation, $$55,000.$

d$.$ Predetermined overhead rate is $50\%$ of direct labor cost.

e$.$ Job $306$ is sold for $$651,000$ cash in April.

$-$a$.$ Compute gross profit for April.

$-$b$.$ Show how the three inventory accounts are reported on the April $30$ balance sheet.

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Compute gross profit for April.