Marcelino Co.'s March 31 inventory of raw materials is $80,000.Raw materials purchases in April are $500,000, and factory payrollcost in April is $363,000. Overhead costs incurred in April are:indirect materials, $50,000; indirect labor, $23,000; factory rent,$32,000; factory utilities, $19,000; and factory equipmentdepreciation, $51,000. The predetermined overhead rate is 50% ofdirect labor cost. Job 306 is sold for $635,000 cash in April.Costs of the three jobs worked on in April follow. Job 306 Job 307Job 308 Balances on March 31 Direct materials $ 29,000 $ 35,000Direct labor 20,000 18,000 Applied overhead 10,000 9,000 Costsduring April Direct materials 135,000 220,000 $ 100,000 Directlabor 85,000 150,000 105,000 Applied overhead ? ? ? Status on April30 Finished (sold) Finished (unsold) In process Materials purchases(on credit). Direct materials used in production. Direct labor paidand assigned to Work in Process Inventory. Indirect labor paid andassigned to Factory Overhead. Overhead costs applied to Work inProcess Inventory. Actual overhead costs incurred, includingindirect materials. (Factory rent and utilities are paid in cash.)Transfer of Jobs 306 and 307 to Finished Goods Inventory. Cost ofgoods sold for Job 306. Revenue from the sale of Job 306.Assignment of any underapplied or overapplied overhead to the Costof Goods Sold account. (The amount is not material.)

2. Prepare journal entries for the month of April to record theabove transactions.