Manufacturing Costs; Cost of Goods Manufactured; Inventories. Cost data on the activities of Sinbad Manufacturing for May are as follows: LO8

(a)Account balances: Finished Goods.... Work in Process...

Direct Material.

Indirect Material...

April 30 May 31

$45,602 $ ?

60,420 52,800 10,250 12,700 5,600 5,180

(b)Transactions in May:

Suppliespurchased. $ 16,500 Cost of goodssold. 280,000 Raw materials purchased. 105,000 Indirectlabor. 22,000 Factory heat, light, andpower. 11,220 Factoryrent. 18,500 Factoryinsurance. 2,000 Salescommissions. 48,000 Administrativeexpenses. 25,000 Production supervisor’s salary... 5,000

(c) 4,250 direct labor hours were worked in May. Laborers work a 40-hour week and are paid $22 per hour for the regular shift and time-and-a-half for each hour of overtime. Of the 4,250 hours, 250 hours were worked in overtime in May. Sinbad treats the overtime premium as a part of overhead.

Required:

(1) Calculate the factory overhead incurred in May.

(2) Detennine the cost of goods manufactured in May.

(3) Determine the ending balance in finished goods at May 31.