Save & Exit Submit Help Ch 15 Problems) Saved Check my work 4 Required information Problem 15-1A Production costs computed and recorded; reports prepared LO C2, P1, P2, 3, 4 Part 4 of 4 The following information applies to the questions displayed below, 2.5 Mercelino Co's March 31 inventory of raw materials is $81,000 Raw materials purchases in April are $570,000, and factory payroll cost in April is $388.000. Overhead costs incurred in April are: indirect materials, $55.000, indirect labor, $27,000, factory rent, $34.000, factory utilities, $22000, and fectory equipment depreciation, $52,000. The predetermined overhead rate is 50 % of direct labor cost. Job 306 is sold for $700,000 cash in April. Costs of the three jobs worked on in April follow. points eBook Job 306 Job 307 Job 308 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials $ 28,000 23,000 11,5e0 S42,000 14,000 7,000 Print 136,000 101,e00 $110,000 105,000 200,000 155,000 References Direct labor Applied overhead Finished (sold) Finished (unsold) In status on April 30 process Problem 15-1A Part 4 4.1 Compute gross profit for April. Gross Proft 4.2 Show how to present the inventories on the April 30 balance sheet Inventories Raw materials Work in process Finished goods Total inventories