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Problem $15-2$A $($Algo$)$ Computing and recording job costs; preparing schedule of cost of goods manufactured LO P$1,$ P$2,$ P$3,$ P$4$

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Marco Company shows the following costs for three jobs worked on in April.

$\backslash$table$[[,$Job $306,$Job $307,$Job $308],[$Balances on March $31],[$Direct materials used $($in March$),$$$32,600,$$ $38,600,],[$Direct labor used $($in March$),23,600,21,600,],[$Overhead applied $($March$),13,600,12,600,],[$Costs during April$],[$Direct materials used,$144,000,229,000,$$ $109,000],[$Direct labor used,$88,600,159,000,114,000],[$Overhead applied,?,?,?$],[$Status on April $30,\backslash$table$[[\backslash$table$[[$Finished$],[($sold$)]]]],\backslash$table$[[$Finished$],[($unsold$)]],$In process$]]$

Additional Information

a$.$ Raw Materials Inventory has a March $31$ balance of $$83,600.$

b$.$ Raw materials purchases in April are $$509,000,$ and total factory payroll cost in April is $$372,000.$

c$.$ Actual overhead costs incurred in April are indirect materials, $$52,250$; indirect labor, $$25,250$; factory rent, $$34,250$; factory utilities, $$21,250$; and factory equipment depreciation, $$53,250.$

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

e$.$ Job $306$ is sold for $$644,000$ cash in April. Problem $15-2$A $($Algo$)$ Part $5$

$5-$a$.$ Compute gross profit for April.

$5-$b$.$ Show how the three inventory accounts are reported on the April $30$ balance sheet.

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Compute gross profit for April. Problem $15-2$A $($Algo$)$ Part $5$

$5-$a$.$ Compute gross profit for April.

$5-$b$.$ Show how the three inventory accounts are reported on the April $30$ balance sheet.

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Show how the three inventory accounts are reported on the April $30$ balance sheet.Problem $15-2$A $($Algo$)$ Computing and recording job costs; preparing schedule of cost of goods manufactured LO P$1,$ P$2,$ P$3,$ P$4$

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$[$The following information applies to the questions displayed below.$]$

Marco Company shows the following costs for three jobs worked on in April.

Job $306$ Job $307$ Job $308$

Balances on March $31$

Direct materials used $($in March$)$ $ $32,600$ $ $38,600$

Direct labor used $($in March$)23,60021,600$

Overhead applied $($March$)13,60012,600$

Costs during April

Direct materials used $144,000229,000$ $ $109,000$

Direct labor used $88,600159,000114,000$

Overhead applied $?$question mark $?$question mark $?$question mark

Status on April $30$ Finished $($sold$)$ Finished $($unsold$)$ In process

Additional Information

Raw Materials Inventory has a March $31$ balance of $$83,600.$

Raw materials purchases in April are $$509,000,$ and total factory payroll cost in April is $$372,000.$

Actual overhead costs incurred in April are indirect materials, $$52,250$; indirect labor, $$25,250$; factory rent, $$34,250$; factory utilities, $$21,250$; and factory equipment depreciation, $$53,250.$

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

Job $306$ is sold for $$644,000$ cash in April.