Return to a Problem 02-1A 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 $530,000, and factory payroll cost in April is $383.000 Overhead costs incurred in April are indirect materials, $56,000, indirect labor, $26.000; factory rent. $35,000 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 $650,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 388 $ 28,00 23,000 11, see $ 36,000 17,000 8,500 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 130,000 184, Bee 210,000 151, eee $115,000 102,000 Finished (sold) Finished (unsold) In process Prev 2 4 No Problem 02-1A Part 4 4-a. Compute gross profit for April 4.b. Show how to present the inventories on the April 30 balance sheet * Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 4A Required 4B Compute gross profit for April. 348.500 Required 4A Required 48 Show how to present the inventories on the April 30 ba Inventories Raw materials Work in process Finished goods Total inventories 191,000 X 178,500 X - 12,500 382,000