Record the entry for Materials purchases (on credit).

Record the direct materials used in production.

Record the Direct labor paid and assigned to Work in Process Inventory.

Record the indirect labor paid and assigned to Factory Overhead.

Record the entry for Overhead costs applied to Work in Process Inventory.

Record the cost of indirect materials used.

Record the cost of factory utilities, paid in cash.

Record depreciation on factory equipment.

Record the cost of factory rent, paid in cash.

Record the entry for transfer of Jobs 306 and 307 to Finished Goods Inventory.

Record the Cost of goods sold for Job 306.

Record the revenue from the sale of Job 306.

Record the entry for assignment of any underapplied or overapplied overhead to the Cost of Goods Sold.

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 Aprll are $500,000, and factory payroll cost In Aprll Is $363,000. Overhead costs Incurred in April are: Indlrect materlals, $50,000; Indirect labor, $23,000, factory rent, $32,000; factory utlities, $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 Aprll. Costs of the three jobs worked on In April followw Job 306 Job 307 Job 308 Balances on March 31 Direct materlals Direct labor Applied overhead $ 29,000 20,000 10,000 $ 35,000 18,000 9,000 Costs during April Direct materlals Direct labor Applied overhead 135,000 85,000 220,000 150,000 $ 100,000 105,000 Status on April 30 FInlshed (sold) Finished (unsold) n process