Required information

Problem $2-2$A $($Static$)$ Computing and recording job costs; preparing schedule of cost of goods

manufactured LO P$1,$ P$2,$ P$3,$ P$4$

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

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

Additional Information

a$.$ Raw Materials Inventory has a March $31$ balance of $$80,000.$

b$.$ Raw materials purchases in April are $$500,000,$ and total factory payroll cost in April is $$363,000.$

c$.$ Actual overhead costs incurred in April are indirect materials, $$50,000$; indirect labor, $$23,000$; factory rent,

$$32,000$; factory utilities, $$19,000$; and factory equipment depreciation, $$51,000.$

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

e$.$ Job $306$ is sold for $$635,000$ cash in April.

Problem $2-2$A $($Static$)$ 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.