! Required information Problem 2-1A Production costs computed and recorded; reports prepared LO C2, P1, P2, P3, P4 [The following information applies to the questions displayed below. Marcelino Co.'s March 31 inventory of raw materials is $89,000. Raw materials purchases factory payroll cost in April is $381,000. Overhead costs incurred in April are: indirect materials, $55,000; indirect labor $22,000; factory rent, $34,000; factory utilities, $21,000; and factory equipment depreciation, $55,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $690,000 cash in April. Costs of the th ree jobs worked on in April follow April are $600,000, and Job 306 Job 307 Job 308 Balances on March 31 $ 32,eee Direct materials 40,eee Direct labor 28,80e 10,eee 15,eee 7,500 ead Costs during April Direct materials Direct labor $120,eee 103, 138,00e 20,ee0 102,0ee 154,eee ? Applied overhead Finishec Status on April 30 In process d) Problem 2-1A Part 3 3. Prepare a schedule of cost of goods manufactured. MARCELINO COMPANY Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs Total cost of work in process Cost of goods manufactured Required information Problem 2-1A Production costs computed and recorded; reports prepared LO C2, P1, P2, P3, P4 [The following information applies to the questions displayed below. Marcelino Co.'s March 31 inventory of raw materials is $89,000. Raw materials purchases in April are $600,000, and factory payroll cost in April is $381,000. Overhead costs incurred in April are: indirect materials, $55,000; indirect labor, $22,000; factory rent, $34,000; factory utilities, $21,000; and factory equipment depreciation, $55,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $690,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 Balances on March 31 40,000 15,000 7,500 Direct materials 32,00e Direct labor 20,00e Applied overhead Costs during April 10,000 $120,eee 103,000 Direct materials Direct labor Applied overhead 138,00e 102,eee 200,000 154,000 Finished (sold) Finished Status on April 30 In process (unsold) Problem 2-1A Part 4 4.1 Compute gross profit for April. Gross Profit