Problem 15-1a production costs computed and recorded; reports prepared lo c2, p1, p2, p3, p4[the following information applies to the questions displayed below.]marcelino co.'s march 31 inventory of raw materials is $80,000. raw materials purchases in april are $510,000, and factory payroll cost in april is $365,000. overhead costs incurred in april are: indirect materials, $53,000; indirect labor, $27,000; factory rent, $32,000; factory utilities, $20,000; and factory equipment depreciation, $53,000. the predetermined overhead rate is 50% of direct 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 307 job 308 balances on march 31 direct materials $ 25,000 $ 40,000 direct labor 25,000 18,000 applied overhead 12,500 9,000 costs during april direct materials 131,000 205,000 $ 105,000 direct labor 105,000 152,000 101,000 applied overhead ? ? ? status on april 30finished (sold) finished (unsold) in processproblem 15-1a part 1required: 1. determine the total of each production cost incurred for april (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from march 31). job 306 job 307 job 308 april totalfrom march direct materials $25,000 $40,000 $65,000direct labor 25,000 18,000 43,000applied overhead 12,500 9,000 21,500beginning goods in process $0for april direct materials 131,000 205,000 105,000 441,000direct labor 105,000 152,000 101,000 358,000applied overhead 0total costs added in april 236,000 357,000 206,000 799,000total costs (april 30) $0status on april 30 finished (sold) finished (unsold) in process april 30 cost included in: problem 15-1a part 2materials purchases (on credit).direct materials used in production. direct labor paid and assigned to work in process inventory. indirect labor paid and assigned to factory overhead. overhead costs applied to work in process inventory. actual overhead costs incurred, including indirect materials. (factory rent and utilities are paid in cash.)transfer of jobs 306 and 307 to finished goods inventory. cost of goods sold for job 306.revenue from the sale of job 306.assignment of any underapplied or overapplied overhead to the cost of goods sold account. (the amount is not material.)2. prepare journal entries for the month of april to record the above transactions.1record the entry for materials purchases (on credit).2record the direct materials used in production.3record the direct labor paid and assigned to work in process inventory.4record the indirect labor paid and assigned to factory overhead.5record the entry for overhead costs applied to work in process inventory.6record the cost of indirect materials used.7record the cost of factory utilities, paid in cash.8record depreciation on factory equipment.9record the cost of factory rent, paid in cash.10record the entry for transfer of jobs 306 and 307 to finished goods inventory.11record the cost of goods sold for job 306.12record the revenue from the sale of job 306.13record the entry for assignment of any underapplied or overapplied overhead to the cost of goods sold. note : = journal entry has been enteredproblem 15-1a part 33. prepare a schedule of cost of goods manufactured. marcelino companyschedule of cost of goods manufacturedfor month ended april 30direct materials used direct labor used factory overhead applied total manufacturing costs 0add: work in process march 31 total cost of work in process 0less: work in process april 30 cost of goods manufactured $0