Problem 15-1A Production costs computed and recorded; reports prepared LO C2, P1, P2, P3, P4 The following information applies to the questions displayed below Marcelino Co.s March 31 inventory of raw materials is $80,000. Raw materials purchases in April are $590,000, and factory payroll cost in April is $376,000. Overhead costs incurred in April are: Indirect materials, $53,000 Indirect labor, $20,000, factory rent, $37,000; factory utilities, $21,000; and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $630,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307Job 308 Balances on March 31 Direct materials Direct labor Applied overhead 31,000 35,000 7,000 8,500 20,000 0,000 Costs during April Direct materials Direct labor Applied overheed 199,000 2 000 $105,000 01,000 152,000 103,000 Status on April 30 Finished (sold) Finished (unsold) In process References Section Break Problem 15-1A Production costs computed and recorded; reports