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 $82,000. Raw materials purchases in April are $540,000, and factory payroll cost in April is $393,000, Overhead costs incurred in April are: indirect materials, $59,000; indirect labor, $29,000; factory rent, $38,000; factory utilities, $25,000; and factory equipment depreciation, $61,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $685,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $ 38,000 $ 26,000 22,000 11,000 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead. 17,000 8,500 133,000 205,000 $110,000 105,000 155,000 104,000 2 ? Finished Finished. Irk Status on April 30 (sold) (unsold) process oblem 15-1A Part 2 Materials purchases (on credit). Direct materials used in production. Direct labor paid and assigned to Work in Process Inventory. ndirect labor paid and assigned to Factory Overhead. Overhead costs applied to Work in Process Inventory. actual overhead costs incurred, including indirect materials. (Factory rent and utilities are paid in cash.) ransfer of Jobs 306 and 307 to Finished Goods Inventory. Journal entry worksheet Journal entry worksheet Journal entry worksheet Credit View general journal Journal entry worksheet