raw materials inventory has a march 31 balance of $94,500. raw materials purchases in april are $505,800, and total factory payroll cost in april is $394,900. actual overhead costs incurred in april are indirect materials, $52,900; indirect labor, $25,900; factory rent, $34,900; factory utilities, $21,900; and factory equipment depreciation, $56,800. predetermined overhead rate is 50% of direct labor cost. job 306 is sold for $660,000 cash in april.