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Marcelino Co's March 31 inventory of raw materials...

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Accounting

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Marcelino Co's March 31 inventory of raw materials is $80,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $386,000. Overhead costs incurred in April are: indirect materials, $60,000; indirect labor, $28,000; factory rent, $31,000; factory utilities, $24,000; and factory equipment depreciation, $56,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $640,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 $ 31,000 25,000 12,500 $ 40,000 13,000 6,500 Balances on March 31 Direct materials Direct labor Applied overhead Costs during April Direct materials Direct labor Applied overhead Status on April 30 133,000 105,000 2 Finished (sold) 210,000 152,000 ? Finished (unsold) $115,000 101,000 2 In process 4-a. Compute gross profit for April. 4-6. Show how to present the inventories on the April 30 balance sheet. 5 Complete this question by entering your answers in the tabs below. Required 4A Required 48 Compute gross profit for April. Gross profit ME GE Hell

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