Please Help! Required information [The following information applies to the questions displayed
below.] Marcelino Co.'s March 31 inventory of raw materials is $87,000. Raw materials
purchases in April are $520,000, and factory payroll cost in April is $383,000. Overhead costs
incurred in April are: indirect materials, $57,000; indirect labor, $25,000; factory rent, $38,000;
factory utilities, $24,000; and factory equipment depreciation, $58,000. The predetermined
overhead rate is 50% of direct labor cost. Job 306 is sold for $695,000 cash in April. Costs of the
three jobs worked on in April follow.
4-a. Compute gross profit for April. 4-b. Show how to present the inventories on the April 30
balance sheet. Complete this question by entering your answers in the tabs below. Compute gross
profit for April.
Show how to present the inventories on the April 30 balance sheet..
Please Help! Required information [The following information applies.pdf
1. Please Help! Required information [The following information applies to the questions displayed
below.] Marcelino Co.'s March 31 inventory of raw materials is $87,000. Raw materials
purchases in April are $520,000, and factory payroll cost in April is $383,000. Overhead costs
incurred in April are: indirect materials, $57,000; indirect labor, $25,000; factory rent, $38,000;
factory utilities, $24,000; and factory equipment depreciation, $58,000. The predetermined
overhead rate is 50% of direct labor cost. Job 306 is sold for $695,000 cash in April. Costs of the
three jobs worked on in April follow.
4-a. Compute gross profit for April. 4-b. Show how to present the inventories on the April 30
balance sheet. Complete this question by entering your answers in the tabs below. Compute gross
profit for April.
Show how to present the inventories on the April 30 balance sheet.
![Please Help! Required information [The following information applies to the questions displayed
below.] Marcelino Co.'s March 31 inventory of raw materials is $87,000. Raw materials
purchases in April are $520,000, and factory payroll cost in April is $383,000. Overhead costs
incurred in April are: indirect materials, $57,000; indirect labor, $25,000; factory rent, $38,000;
factory utilities, $24,000; and factory equipment depreciation, $58,000. The predetermined
overhead rate is 50% of direct labor cost. Job 306 is sold for $695,000 cash in April. Costs of the
three jobs worked on in April follow.
4-a. Compute gross profit for April. 4-b. Show how to present the inventories on the April 30
balance sheet. Complete this question by entering your answers in the tabs below. Compute gross
profit for April.
Show how to present the inventories on the April 30 balance sheet.](https://image.slidesharecdn.com/pleasehelprequiredinformationthefollowinginformationapplies-230331080141-71fb140c/85/please-help-required-information-the-following-information-appliespdf-1-320.jpg)
