Required information 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 $84,000. Raw materials purchases in April are $580,000, and factory payroll cost in April is $383,000. Overhead costs incurred in April are: Indirect materials, $53,000; Indirect labor, $26,000; factory rent, $38,000; factory utilities, $21,000; and factory equipment depreciation, $53,000. 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 307 Job 308 Balances on March 31 Direct materials Direct labor $ 25,000 $ 37,000 Applied overhead Costs during April 21,000 10,500 14,000 7,000 Direct materials 133,000 200,000 $110,000 Direct labor 101,000 152,000 104,000 Applied overhead Finished: Finished Int Status on April 30 (sold) (unsold) process