GL1501 - Based on Problem 15-1A Marcelino Company LO C2, P1, P2, P3, P4 Marcelino Co.'s March 31 inventory of raw materials is $80,000, Raw materials purchases in April are $500,000, and factory payroll cost in April is $363,000. Overhead costs incurred in April are: indirect materials, $50,000; indirect labor, $23,000; factory rent, $32,000; factory utilities, $19,000; and factory equipment depreciation, $51,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $635,000 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 35,000 18,000 9,000 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 135,000 85,000 2 Finished (sold) 220,000 150,000 2 Finished (unsold) $100,000 105,000 ? In process Complete this question by entering your answers in the tabs below. Cost of Goods Mfg Gross Profit General General Requirement Job Costs Journal Trial Balance Ledger Prepare journal entries for the month of April's transactions. I. Record the revenue from the cash sale of Job 306. Note: Enter debits before credits Date Account Title Debit Credit Apr 30 Record entry Clear entry View general Journal Saved View transaction list Journal entry worksheet