The following information applies to the questions displayed below. Winfrey Co.'s March 31 inventory of raw materials is $150,000. Raw materials purchases in April are as follows: materials - $30,000, indirect labor - $14,000, factory rent - $20,000, factory utilities - $12,000, and factory equipment depreciation - $30,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $380,000 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 $14,000 $18,000 $18,000 $16,000
Direct labor Applied overhead $9,000 $8,000
Costs during April $100,000 $170,000 $80,000
Direct materials $30,000 $56,000 $120,000
Direct labor ? ?
Applied overhead ?
Status on April 30:
Finished sold Finished unsold In process