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Problem 15-1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4 The following information applies to the questions displayed below) Marcelino Co's March 31 inventory of raw materials is $86.000 Raw materiais purchases in April are $590.000, and factory payroll cost in April is $386 000 Overhead costs incurred in April are indirect materials, $59.000. Indirect labor $25,000, factory rent $39000 factory utilities $23,000 and factory equipment depreciation $58,000. The predetermined overhead rate is 50% of direct labor cost Job 306 is sold for $640,000 cash in Apel Costs of the three jobs worked on in April follow Job 300 Job Jobs Balonces on March 31 Direct materials 5 30.000 5 Grect labor 24,900 Applied overhead 12.000 9,000 Costs during April Direct materiais 131.000 21000 Sabo olrect labor 195.000 1000 104, Applied overhead minished HERE old In Problem 15-1A Part 2 a. Materials purchases (on credit). b. Direct materials used in production c. Direct laborpaid 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 . 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 1. Revenue from the sale of Job 306 3. 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 2 13 Journal entry worksheet .... Record the entry for Materials purchases (on credit). Note: Enter debits before credits. Transaction General Journal Debit Credit a