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Problem 15-1A Production costs computed and recorded; reports prepared LO P1, P2, P3, P4

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Marcelino Co.'s March 31 inventory of raw materials is $87,000. Raw materials purchases in April are $540,000, and factory payroll cost in April is $385,000. Overhead costs incurred in April are: indirect materials, $60,000; indirect labor, $29,000; factory rent, $34,000; factory utilities, $23,000; and factory equipment depreciation, $58,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $665,000 cash in April. Costs of the three jobs worked on in April follow.
 

	Job 306				Job 307				Job 308
Balances on March 31
Direct materials		$	28,000			$	38,000
Direct labor			21,000				18,000
Applied overhead			10,500				9,000
Costs during April
Direct materials			137,000				215,000			$	110,000
Direct labor			104,000				152,000				100,000
Applied overhead			?				?				?
Status on April 30	Finished (sold)				Finished (unsold)					In process