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$15$ Required Problem $(10$ Pts $)$

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

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

$\backslash$table$[[,$Job $306,$Job $307,$Job $308,],[$Balances on March $31,,,,],[$Direct materials used $($in March$),$$$33,800,$$$39,800,,],[$Direct labor used $($in March$),24,800,22,800,,],[$Overhead applied $($March$),14,800,13,800,,],[$Costs during April,,,,$],[$Direct materials used,$147,000,232,000,$$$112,000,],[$Direct labor used,$89,800,162,000,117,000,],[$Overhead applied,?,?,?,?$],[$Status on April $30,,,,]]$

Additional Information

a$.$ Raw Materials Inventory has a March $31$ balance of $$84,800.$

b$.$ Raw materials purchases in April are $$512,000,$ and total factory payroll cost in April is $$375,000.$

c$.$ Actual overhead costs incurred in April are indirect materials, $$53,000$; indirect labor, $$26,000$; factory rent, $$35,000$; factory utilities, $$22,000$; and factory equipment depreciation, $$54,000.$

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

e$.$ Job $306$ is sold for $$647,000$ cash in April.

$5-$a$.$ Compute gross profit for April.

$5-$b$.$ Show how the three inventory accounts are reported on the April $30$ balance sheet.

Complete this question by entering your answers in the tabs below.

Req $5$A

Req $5$B

Compute gross profit for April.

Gross profit